Carlyle Group completes acquisition of Siemens' Flender

Siemens has closed the sale of Flender GmbH to The Carlyle Group for EUR2.025 billion (US$2.4 billion). In October 2020, Siemens announced its plans to sell the specialized supplier of mechanical and electrical drive systems to Carlyle.

As previously announced, the sale of Flender results in a disposal gain of a euro amount in the mid-triple-digit millions for Siemens AG.

Flender manufactures mechanical and electrical components. The company offers custom-made gear units, couplings, add-on parts, air-cooled condensers, belt conveyors, and gear units for drive systems. Flender serves cement, mining, oil and gas, rubber and plastic, sugar, and power generation sectors worldwide.