Luther advises Knorr-Bremse on takeover of British GT Group

At the end of June 2016, Knorr-Bremse will take over GT Group and aquire thus additional know-how in the field of emission control of diesel engines. In this transaction, the global market leader for braking systems for rail and commercial vehicles is advised by German law firm Luther.

With the planned takeover of GT Group based in Peterlee/UK, Knorr-Bremse reinforces its competitive position in the engine air management sector. The company aims to strengthen its market position in Europe and North America as well as to expand its activities in Asia – especially by a close engineering collaboration between GT Emissions Systems and its subsidiaries in Japan and China.

The parties have agreed not to disclose the purchase price. The acquisition is subject to approval by the anti-trust authorities.

About GT Group

GT Group’s core business is the development and manufacturing of EGR valves and exhaust brakes for diesel engines used in the commercial vehicle sector. The owner-managed company with around 250 employees operates four locations in the Peterlee area and ranks in both product segments amongst the worldwide market leaders. GT Group exports products and services to more than 60 countries throughout the world. www.gtgroup.co.uk

About Knorr-Bremse

Knorr-Bremse is based in Munich and is the world’s leading manufacturer of braking systems for rail and commercial vehicles, with sales totalling almost EUR 6 billion in 2015. In 30 countries, some 25,000 employees develop, manufacture, and service braking, entrance, control, and energy supply systems, HVAC and driver assistance systems, as well as powertrain and transmission control solutions. As a technology leader, for more than 110 years now, through its products the company has been making a decisive contribution to greater safety by road and rail. Every day, more than one billion people around the world put their trust in systems made by Knorr-Bremse. The company employs some 1,000 people at seven facilities in the UK.

For Knorr-Bremse

In-house
Knorr-Bremse: Dr Ilkin Karakaya (General Counsel), Christian Vornehm (Legal M&A / Antitrust), Max Huber (Real Estate & Insurance), Arndt Brambach (Corporate Development, overall project responsibility)

External Legal Advisor
Luther, Mergers & Acquisitions: Dr Andreas Blunk, MLE (Lead, Of Counsel), Dr Thomas Halberkamp (Partner, both Hanover)

Luther, Antitrust Law: Anne Wegner LL.M. (Partner), Sophie Oberhammer, LL.M. (both Dusseldorf)

Consulting in UK law
Faegre Baker Daniels (London): Paul Finlan (Partner), Douglas Badder, Jonathon Gunn

Financial and Tax Due Diligence
Deloitte: Thomas Heidenfeld, Richard Pickford (Financial Due Diligence), Tom Vallance (Tax Due Diligence)