On 11 October 2022 Groz-Beckert and TKM signed an agreement for the takeover of TKM GmbH by Groz-Beckert. The planned acquisition includes all TKM’s business units and locations and is subject to the customary transaction conditions. TKM will continue to operate as an independent company within the Groz-Beckert Group.
TKM manufactures industrial knives for the paper, wood, metal, plastics, rubber and recycling industries as well as for mechanical engineering. The company employs around 750 people worldwide and has production and service locations in Germany, Austria, the Netherlands and Finland as well as sales companies in France, the USA, Canada, China, Singapore and Malaysia. TKM generated EUR 125 million in turnover in 2021.
Groz-Beckert is one of the world’s leading providers of industrial machine needles, precision parts and fine tools as well as systems and services for the production and joining of textile surfaces. With a global workforce of some 8,700, the group generated a turnover of EUR 742 million in 2021.
Groz-Beckert was advised by the following Gleiss Lutz team: Dr Alexander Schwarz (lead, partner), Dr Fabian Mumme (both M&A, Düsseldorf), Dr Ocka Stumm (partner, Tax, Frankfurt), Dr Martin Lembke (counsel), Dr Anselm Christiansen, Josefine Wiegand (all Stuttgart), Kai Jakob Zimutta (Düsseldorf, all M&A), Dr Katja Lehr (counsel), Yvonne Gerster (both Finance, Frankfurt), Dr Alexander Molle (partner), Jan Felix Hinrichs (both IP/IT), Simon Wegmann (Data Protection, all Berlin), Dr Marc Ruttloff (partner, Stuttgart), Matthias Hahn (Düsseldorf), Marius Misztl (Stuttgart, all Public Law), Dr Jacob von Andreae (partner), Aylin Hoffs (both Investment Control, Düsseldorf), Julian Kettemer (Tax, Frankfurt), Dr Patrick Grüner (counsel, Competition/Antitrust), Maximilian Leisenheimer (Real Estate, Frankfurt), Josefine Chakrabarti (Berlin), Dr Simona Kreis (Hamburg, both Employment), Dr Simon Wagner (counsel), Sophie Römer (both Commercial, Stuttgart).
In-house at Groz-Beckert, the transaction was handled by General Counsel Dr. Christian H. Müller.
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