UK engineering firm bought up by Knorr-Bremse AG

Thu, 23 Jun 2016 | BUSINESS SALE

County Durham-based engineering firm GT Group has been purchased by German manufacturer Knorr-Bremse AG.

GT Group specialises in environmental engineering and its products include Breakaway couplings, Drybreak couplings and Exhaust Gas Control Valves, and serves customers operating in the automotive, oil and gas and petrochemical sectors in over 60 countries. The company was founded over 35 years ago by chairman Geoff Turnbull and has a 250-strong workforce.

Mr Turnbull, who will be retiring from the business, said: “With the expertise of our workforce and the support of its new owners, I am confident I am leaving the business in very safe hands.”

The purchase was made for an undisclosed amount. GT Group, which is debt-free and has a forecasted order book of several hundred million pounds, was advised on the deal by Duncan Lamb from Grant Thornton.

The group's new owners, Munich-based Knorr-Bremse AG, is a 110-year-old, family-owned manufacturer of braking systems for rail and commercial vehicles. It has about 25,000 staff in 30 countries, with 1,000 of these based in the UK at seven sites.

Dr Peter Laier, who is on the executive board at Knorr-Bremse, commented: “The strategic fit of GT Group to Knorr-Bremse and the strong position of our combined businesses will enable us to meet the needs of our worldwide customers in the engine air management business even more comprehensively.

"We will be able to join forces and leverage synergies fast and strengthen our market position in Europe and North America," Insider Media reported.

Find engineering businesses for sale


Share this article



Latest Businesses for Sale

BMW After Market Specialist
UK Wide

A rare opportunity to acquire a long established, profitable, BMW After Market Specialist, with an excellent reputation. Trading profitably since 1994. Offering complete automotive performance, engineering and styling solutions. This is a retirement...

Asking Price: Offers Invited
Turnover: £726,000

Provider of Coffee Machines & Related Products
South East, UK

Provides an extensive range of coffee machinery, which is imported from Italy and Spain, and coffee products, which are sourced within the UK. Offers invited.

Asking Price: Offers Invited
Turnover: £1,000,060

FREEHOLD


International Export Services
North West, UK

One of the UK's leading end-to-end service providers. Comprehensive export handling, packing and storage services, providing specialist cargo and goods management to a wide variety of international operations and private clients. 40+ years of success...

Asking Price: Offers Invited
Turnover: £1,300,000


View more businesses for sale

News Search

Latest News

 
24
 
Jan
 

Yorkshire engineering firm completes MBO deal | MBO/MBI

A West Yorkshire engineering group has been taken over by th...

 
22
 
Jan
 

Jewellery retailer enters administration | ADMINISTRATION

A Nottingham-based jewellery and watches company has fallen ...

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
13
 
Dec
 

Harvard Technology Limited enters administration | ADMINISTRATION

A lighting company based in Normanton has been forced to eng...

 
12
 
Jun
 

Construction company collapses following the liquidation of Carillion | ADMINISTRATION

Irish building firm Sammon Construction has gone into insolv...

 
12
 
Oct
 

CovPress Limited in administration, leaves 800 jobs facing uncertain future | ADMINISTRATION

One of Coventry’s largest employers has gone into admi...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources