The shareholders of TKM GmbH, Remscheid, a worldwide leading tool manufacturer for industrial cutting precision tools, have sold their shares in the company to Groz-Beckert KG, Albstadt. Network Corporate Finance exclusively advised the shareholders of TKM GmbH on the transaction.

Transaction

The shareholders of TKM GmbH sell 100% of their shares to Groz-Beckert KG. The planned acquisition includes all of TKM's business entities and sites. Within the Groz-Beckert Group, TKM will remain an independent company. By acquiring TKM, Groz-Beckert’s goal is to diversify and expand the development of its expertise in the tool industry. TKM and Groz-Beckert products are complimentaryprocess-critical precision metal tools, with similar product portfolios. The transaction is subject to antitrust review.

Company

TKM has production experience since 1908 and achieved with around 750 employees a turnover of 125 million euros in 2021 and expects a turnover of around 140 million euros in 2022. The company’s wide product range serves the markets of paper, wood, metal, plastics, rubber and recycling industries, as well as mechanical engineering. TKM has production and service sites in Germany, Austria, the Netherlands and Finland, with sales subsidiaries in France, the USA, Canada, China, Singapore and Malaysia.

Groz-Beckert is the world’s leading provider of industrial machine needles, precision parts and fine tools as well as systems and services for the production and joining of textile fabrics. The family-owned company, founded in 1852, employed around 8,700 people and generated a turnover of 742 million euros in 2021. Groz-Beckert operates with agencies, production and distribution subsidiaries in more than 150 countries around the world.