We are excited by the significant growth opportunity of wind energy development in China and across Asia, where a significant proportion of the global capacity additions is expected to originate. Janine Feng, Managing Director of Carlyle Asia Partners, said: “China is expected to remain a major driver of the global renewable energy transition and has pledged to become carbon neutral by 2060. We look forward to partnering with the company’s management team and employees to further build on the company’s success.”
Our significant Industrials expertise, as well as extensive experience with carve-out transactions, positions Carlyle well to support Flender with its continued growth and innovation. Gregor Böhm, Managing Director and Co-Head of Carlyle Europe Buyout, said: “As a global leader in gear and drive technology with a unique product and service portfolio, Flender is ideally positioned for further growth. We look forward to working closely together as we continue to serve our customers around the world while also pursuing our growth ambitions.” Leveraging its significant experience in the Industrials sector, The Carlyle Group will support Flender to fully achieve its potential as a standalone company, driving accelerated growth through operational and strategic improvements, including investment into its technology and service platform.Įquity for the investment will be provided by Carlyle Europe Partners (CEP) V, a €6.4 billion fund investing in European opportunities across a range of sectors and industries, and an affiliate of Carlyle Asia Partners (CAP) V, a US$6.6 billion fund focused on buyout and strategic investments across a range of sectors in the Asia Pacific region.Īndreas Evertz, CEO of Flender, said: “We are delighted to be partnering with Carlyle, a firm with a long history in growing Industrials businesses globally and supporting companies as they transition to become standalone entities. The business is particularly strong in Wind, a sector benefitting from secular tailwinds given its increasing importance in the energy mix. The company’s comprehensive product and service portfolio includes gearboxes, couplings, and generators for a wide variety of industries. Headquartered in Bocholt, Germany, and active across 35 countries including Asia, Flender is a global leader in drive technology employing approximately 8,600 people and had sales of c.€2.2 billion in FY20.
The transaction is subject to regulatory approvals. Further details of the transaction were not disclosed. Munich, Germany, 29 October 2020 - Global investment firm The Carlyle Group (NASDAQ: CG) today announced that it has agreed to acquire Flender GmbH, a market leader in mechanical and electrical drive technology, from Siemens AG for €2 billion.
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