Siemens Aktiengesellschaft signed an agreement to acquire the industrial drive technology (IDT) business from ebm-papst Mulfingen GmbH & Co. KG on March 21, 2024. The IDT business of ebm-papst is located in St.

Georgen and Lauf an der Pegnitz, Germany, and in Oradea, Romania. Ebm-Papst said that it will use the proceeds from the transaction to expand its air technology and heating technology divisions and strengthen its position in Europe, Asia and the Americas. The company also plans to invest in digitalization and sustainability.

The transaction is to be completed by mid-2025, subject to the necessary foreign trade and merger control approvals. Jochem Reichert, Jan Friedrichson, Oliver Schröder, Katharina Steinbrück, Peter Bauschatz, Christoph Allmendinger, Steffen Henn, Alexander Stolz, Maximilian Mersch and Maximilian Mersch of SZA Schilling, Zutt & Anschütz acted as a legal advisor to ebm-papst Mulfingen.