Advisor to KNDS as they act as cornerstone investor in the successful IPO of RENK Group

Steen Associates acted as financial advisor KNDS during the successful IPO of RENK AG. KNDS N.V. (KNDS), a leading European defense company founded in 2015 through the merger of Krauss-Maffei-Wegmann(KMW) and the French defense company Nexter Systems has subscribed to shares worth EUR 100 million as cornerstone investor.

In addition, the selling shareholder TRITON and KNDS entered into an agreement, allowing KNDS to appoint a member of the supervisory board and to have the option to acquire additional shares to reach a total shareholding of up to 25% plus one vote of shares of the company from the selling shareholder at a share price above the Placement Price at a later point in time after the listing.

Amongst other products, KNDS manufactures one of the worldwide leading battle tanks, Leopard 2, for which RENK supplies the transmissions. The investment of KNDS into the RENK Group AG will further support the strategic international growth of RENK, strengthening its market position. “With KNDS, another strong and long-term committed investor joins us, convinced of RENK's capabilities and strategy. The longstanding, trusted business relationship with KNDS as one of our key customers lays the foundation for a successful future. We look forward to taking the next step together," stated Susanne Wiegand, CEO of RENK Group AG.