Milbank LLP Advised the Financing Sources to Provide a Debt Financing Package in Support of KPS Capital Partners’ Acquisition of Innomotics from Siemens AG for an Enterprise Value of €3.5 Billion

Milbank LLP advised the financing sources to provide a debt financing package in support of KPS Capital Partners’ acquisition of Innomotics from Siemens AG for an enterprise value of €3.5 billion. The debt financing package comprised a EUR TLB Facility in an amount of €700 million and a USD TLB Facility in an amount of €500 million (dollar-equivalent), EUR Senior Secured Notes in €600 aggregate principal amount and a Guarantee Facility in an amount up to €425 million.

Headquartered in Nuremberg, Germany, Innomotics is a leading global supplier of mission-critical electric motor and large drive systems, employing approximately 15,000 people and operating 17 factories across the EMEA, Americas and Asia-Pacific regions. The transaction closed on October 1, 2024.

The Milbank team was led by European Leveraged Finance/Capital Markets partners Suhrud Mehta, Laura Bonamis, Sarbajeet Nag, Rebecca Marques, Apostolos Gkoutzinis and Thomas Ingenhoven, special counsel Thomas Möller, and included associates Maria Schweinberger, Simeon-Henri de Vries, Lara Milione, Dimitris Krokos, Katherine Williams, Caio Junqueira de Brito, Andrew Mavers, Argyll Reid and Irene Vazquez Scortti. The team also included New York Tax partner Andrew Walker and Munich Tax partner Thomas Kleinheisterkamp, London Tax special counsel Andrew Callaghan and associates Freddy Pilkington and Michelle Song as well as London Alternative Investments partner Claire Bridcut and associate Chris Burke.