Baker Tilly advises GESCO subsidiary on acquisition in the US
- 05/26/2023
- Reading time 2 Minutes
Baker Tilly has provided tax and business advice to GESCO SE and its subsidiary Dörrenberg Edelstahl GmbH in connection with an important acquisition in the US. By acquiring Tremblay Tools Steels, a provider for special steels, Dörrenberg strengthens its position in the US, one of GESCO SE’s most important foreign markets.
The German and US Baker Tilly teams’ internationally well-rehearsed cooperation was a key factor in the transaction consulting: Headed by Partner Christian Wegener, the team worked closely with US colleagues Dave Gette and Chris Schleicher on the tax due diligence, the transaction’s tax structuring and the tax support for the transaction documents.
The financial due diligence and business advice was provided by a team led by Partner Nils Klamar together with Director Daniel Zeiß and Junior Manager Neha Tiwari. Our colleagues from the Baker Tilly US valuation department were also involved in the transaction.
Tremblay Tool Steels, LLC, based in Ohio, focuses on tool and engineering steels with machining capabilities in surface grinding, milling, sawing and flame cutting. Since 2014, the company has served as Dörrenberg’s sales partner in the US and as exclusive partner for Dörrenberg special steels, and achieved sales of around eight million US dollars in 2022.
The GESCO SE industrial group bundles market and technology-leading companies in the capital goods industry with a focus on process, resource as well as healthcare and infrastructure technology. All Group companies are to be developed into global market leaders.
