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Siemens to acquire KACO new energy GmbH
Siemens plans to acquire the string inverter business of the KACO new energy GmbH, a manufacturer of energy-related power electronics, for an undisclosed sum.
The project development and EPC activities are not part of the acquisition. The closing of the transaction is subject to regulatory approval and expected in the first half of 2019. KACO new energy, headquartered in Neckarsulm, Germany, is active in more than nine countries with local sales and service companies and has more than 350 employees. KACO new energy's product line covers the full power range, from inverter units designed for a family home, commercial buildings and infrastructures to complete systems for solar parks producing megawatts of electricity. The company has developed the next generation inverter technology based on silicon carbide (SiC). KACO new energy has been managed since 1999 by Ralf Hofmann as executive manager. Since the end of 2016, the Mulfingen-based entrepreneur Gerhard Sturm joined as another associate. "With Siemens we are happy to have found a buyer where we see our technological know-how in good hands. Embedded in a strong corporate group, KACO new energy is well prepared for the challenges of the coming years", says Ralf Hofmann, in a press release. "With this acquisition, Siemens gains access to the latest technology, while KACO new energy will benefit from the resources required to scale up. Together, we will be able to apply the technology in exciting growth segments", explains Cedrik Neike, Managing Board Member of Siemens AG. Distributed energy, renewable energy sources and eMobility are playing an increasingly important role in the energy value chain, requiring increasing intelligence via an open and flexible ecosystem of technology, solutions and services. Siemens is supporting its customers and the society in reaching their ambitious goals for climate protection. With the complementary power electronics portfolio of KACO new energy, Siemens is strengthening itsposition in the high-growth fields of decentralized energy systems and is providing corresponding benefits to customers.
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