BERLIN, Aug. 10, 2023 /PRNewswire/ -- Heramba GmbH and Heramba Holdings Inc. ("Heramba") today announced that it has entered into a definitive agreement with subsidiaries of Knorr-Bremse Aktiengesellschaft to acquire Kiepe Electric, a company focused on decarbonization of commercial and public transportation.
Kiepe Electric is a global leader in the electrification of road and rail urban transportation applications, including designing, manufacturing and implementing power electronics products, electric drives and vehicle controls hardware and intelligent software for fleet management and energy management. The company's software provides a holistic end-to-end dashboard from the charging systems to the end-vehicle. Kiepe is also a specialist in vehicle charging solutions and is the leading supplier of In-Motion Charging solutions. In 2022, Kiepe introduced its proprietary High Power Charging platform, which facilitates vehicle fast charging and energy management for battery-electric buses.
"The acquisition of Kiepe Electric is an exciting step forward for our team," said Dr. Hans-Jörg Grundmann, Managing Director of Heramba. "Since its foundation, Kiepe has demonstrated a long history of evolving its business to deliver innovative solutions. With a focus on enabling sustainable mass transit, a portfolio of high-quality products and services, long-standing partnerships with leading global customers and an attractive backlog, we believe Kiepe is in a position to become a leader in commercial electrification."
Transaction Rationale:
- Creates a unique pure-play global leader in sustainable urban transportation
- Further accelerates the expansion of urban transportation addressable market globally
- Adoption of an asset-light business strategy with marquee customers across rail & road in the U.S. & Europe
- Led by a seasoned and experienced leadership team
Kiepe Electric has grown into a global leader in sustainable transit, with over 580 employees operating in six countries around the world. In 2022, Kiepe Electric had revenues in excess of $120 million. Heramba's acquisition of Kiepe Electric is expected to close in the second half of 2023, subject to customary closing conditions.
About Heramba
Heramba GmbH, founded in January 2023 and headquartered in Berlin, Germany and Atlanta, United States, is a special-purpose company focused on investing in companies with technologies and capabilities that can accelerate the decarbonization of commercial transportation.
Heramba is led by Dr. Hans-Jörg Grundmann (Managing Director), who has dedicated his career to innovating and improving commercial transportation, including in his role as CEO of Siemens Mobility and his other leadership roles with industry leaders Siemens and AEG. For more information, visit http://herambaholdings.com/
Piper Sandler is serving as financial advisor to Heramba, and Latham & Watkins LLP and Smith, Gambrell & Russell, LLP are serving as legal counsel.
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