ATA has announced its largest acquisition to date. The Irish-owned and Cavan-headquartered international precision engineering group, which has facilities in the UK and US, acquired Karnasch Professional Tools GmbH located in Heddesheim, near Berlin, Germany.

The acquisition marks an important milestone for ATA and the first since the 2016 management buyout of its private equity partners.

The acquisition also brings the value of the combined enterprise to around $179m and increases the worldwide workforce to nearly four hundred staff.

Established in 1960, Karnasch is a third-generation, family-owned company, selling precision industrial tools across multiple applications including grinding, milling, cutting, sawing and drilling. Karnasch’s focus includes various industry sectors such as automotive, aerospace, construction and mechanical engineering. The company has a strong position in its domestic German market and exports to over 60 countries worldwide.

“We have long admired the professionalism of the Karnasch family and have greatly respected their clear market leadership. ATA is delighted to combine forces with a company of this caliber and reputation and look forward to having the benefit of their obvious expertise within the expanded organization,” ATA CEO Peter Cosgrove said.

The acquisition included equity investment from the Ireland Strategic Investment Fund (ISIF) and the Development Capital Fund (DCF).

For more information, visit the ATA Group website.

Photo of Fergal McAleavey of ISIF, left, and Peter Cosgrove of ATA, right, courtesy of ATA Group