Matheson


News and Insights

Print this page

Search News & Insights


Matheson Advises Irish Precision Engineering Group ATA on Cutting Edge Transaction

AUTHOR(S): Tim Scanlon, Patrick Molloy, Brian McCloskey
PRACTICE AREA GROUP: Corporate, Finance and Capital Markets, Mergers and Acquisitions
DATE: 10.05.2019

Matheson has advised Cavan-based precision engineering group ATA on new debt and equity funding used to facilitate the acquisition of German cutting tools specialist Karnasch Professional Tools, in a deal that values the enlarged business at €160 million.  The senior debt was provided by AIB and Bank of Ireland, with equity investment coming from the Ireland Strategic Investment Fund (ISIF) and Development Capital Fund.  The deal will increase ATA’s revenues from €58 million to €80 million, and increase its total workforce from 310 to 400, with 150 based in Ireland.

ATA was advised on the deal by partners Brian McCloskey, Tim Scanlon and Paddy Molloy, as well as corporate and banking associates Naomi Barker, Fran Keogh, Elizabeth Carr-Fanning and Laura Costello.

Brian McCloskey, Corporate M&A Partner at Matheson said:

“We are delighted to have advised long standing client ATA on this transaction.  ATA is a great example of an indigenous Irish business with an international footprint - exporting to more than 70 countries.  The acquisition of Karnasch further expands ATA's international footprint and we look forward to working with Peter, John and the whole team at ATA as they look to further develop the business in the months and years ahead."

With a wealth of experience across our six partner led offices worldwide and a dedicated 100 person Corporate Department, Matheson has some of the most experienced corporate lawyers in Ireland.  Excellence matters and Matheson’s Corporate Department, led by 21 partners, has unparalleled experience in complex and innovative domestic and international corporate transactions across all industry sectors.

BACK TO LISTING



About cookies on our website

Following a revised EU directive on website cookies, each company based, or doing business, in the EU is required to notify users about the cookies used on their website.

Our site uses cookies to improve your experience of certain areas of the site and to allow the use of specific functionality like social media page sharing. You may delete and block all cookies from this site, but as a result parts of the site may not work as intended.

To find out more about what cookies are, which cookies we use on this website and how to delete and block cookies, please see our Which cookies we use page.

Click on the button below to accept the use of cookies on this website (this will prevent the dialogue box from appearing on future visits)