Heramba to Acquire Kiepe Electric, A Global Leader in Sustainable Urban Transportation

"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."

"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:

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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