The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Innomotics GmbH of Germany and Innomotics LLC of the US (together ‘Innomotics’) by KPS Capital Partners, LP (‘KPS’) of the US.
The transaction relates primarily to the development, production and global sale of low and high voltage electric motors and medium voltage drives, as well as accompanying solutions and services.
The Commission concluded that the notified transaction would not raise competition concerns, given the companies’ limited combined market position resulting from the proposed transaction. The notified transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11616.
Source – EU Commission