Kiepe Electric, a company focused on the electrification of road and rail urban transportation applications, has been acquired by Heramba GmbH and Heramba Holdings Inc. (Heramba) in a definitive agreement with subsidiaries of Knorr-Bremse Aktiengesellschaft.
Kiepe Electrics software provides a holistic end-to-end dashboard from the charging systems to the end-vehicle with the addition of providing In-Motion Charging solutions. In 2022, Kiepe introduced its proprietary High Power Charging platform, which facilitates vehicle fast charging and energy management for battery-electric buses.
"The acquisition of Kiepe Electric is an exciting step forward for our team," said Dr. Hans-Jörg Grundmann the 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
- Creates a unique pure-play global leader in sustainable urban transportation
- Further accelerates the expansion of urban transportation addressable market globally
- Adoption of an asset-light business strategy with marquee customers across rail & road in the U.S. and Europe
Kiepe Electric is growing into a 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.
