Hannover – The British GT Group, a subsidiary of global market leader Knorr-Bremse AG, will focus in future even more strongly on its core business of exhaust gas flap systems. Consequently, GT Group has sold AlphaProcess Controls (International) Ltd. and Aldona Seals Ltd. Together with Duane Morris LLP, Luther Rechtsanwaltsgesellschaft advised Knorr-Bremse on all legal aspects of the sale of the company's shares to Accedo Group Ltd.
Luther Rechtsanwaltsgesellschaft already provided comprehensive advice to the Munich-based company on the acquisition of the British GT Group to Knorr-Bremse AG in 2016. The takeover of the Peterlee/UK-based company was an important milestone in strengthening Knorr-Bremse's long-term market position in Europe, North America and Asia.
It was agreed not to disclose the purchase price.
The Knorr-Bremse Group is the world's leading manufacturer of braking systems for rail and commercial vehicles. As a technological pacemaker, the company has played a key role in the development, production, sales and service of modern braking systems for over 100 years. Other product fields in the Rail Vehicle Systems division include intelligent boarding systems, air conditioning, control components and windscreen wipers, platform screen doors, friction materials and driver assistance systems. Knorr-Bremse also offers driving simulators and e-learning systems for optimum training of train crews. In addition to complete braking systems including driver assistance systems, the Commercial Vehicle Systems division's range of products includes torsional vibration dampers and solutions for every aspect of the driveline, as well as transmission control systems to improve efficiency and save fuel.
In-house: Janine Lanfermann-Schmid (legal project management) in the team around Christian Vornehm (Legal M&A/Antitrust) and Dr Ilkin Karakaya (General Counsel)
Luther, Corporate M&A: Dr Andreas Blunk (Lead, Of Counsel)
Duane Morris, Corporate M&A: Paul Finlan, Linda Crow and Candice Light