Carlyle Group completed the acquisition of Flender, a supplier of mechanical and electrical drive systems, from Siemens, an industrial manufacturing company, for $2.38bn. “By selling Flender, we’re successfully and rigorously continuing our strategy to become a new, focused Siemens AG. Our plan of fixing the businesses ourselves by introducing the structures used in small and midsized companies has proven effective. Now it’s time to position Flender as an independent company and give it the chance to realize future growth opportunities. This fast decision gives customers and employees clarity and a solid foundation for planning,” Joe Kaeser, Siemens President and CEO.