ATA announces acquisition of Karnasch Professional Tools
May 10, 2019 - ATA, an international precision engineering group with facilities in Ireland, the UK and the USA, has acquired Karnasch Professional Tools GmbH located in Heddesheim, near Mannheim and in Gorsdorf, near Berlin.
The acquisition of Karnasch marks a milestone for ATA and the first since the 2016 management buyout of its private equity partners. The acquisition increases the worldwide workforce to nearly four hundred staff of whom approximately one hundred and fifty are based in Ireland.
The original ATA business was acquired in 2008 by Peter Cosgrove and equity investors. Revenues grew in the following decade, (mainly through a series of international acquisitions) from €17m then to €80m.
Established in 1960, Karnasch is a third-generation, family-owned company, selling industrial tools across multiple applications including grinding, milling, cutting, sawing and drilling. The company exports to over 60 countries worldwide.
Michael and Sascha Karnasch will continue as managing directors in Karnasch, retaining a shareholding. Both join the ATA senior management team.
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