ATA Group completes acquisition

MML Capital Partners LLP are pleased to announce that the ATA Group has completed the acquisition from Kennametal of ATI Garryson, a UK manufacturer of tungsten carbide burs and abrasives. This is the second major acquisition for ATA following the successful acquisition and integration of SGS Burs which was funded by MML’s original investment into the business in December 2012.

ATI Garryson is a major global competitor and has long been a strategic target for the ATA Group. In total ATA raised c€14m, in a combination of debt and equity, to facilitate the acquisition and integration. Following integration the ATI Garryson business is expected to contribute significant EBITDA to the ATA Group.

Commenting on the transaction, Group Chief Executive Peter Cosgrove said,

“This was an opportunity to acquire a significant global competitor and to take another major step forward in our planned growth aspirations. Both MML and our bank, AIB, have been extremely supportive”.

Richard Mayers, Investment Director at MML, commented

“Peter and his team have previously demonstrated their ability to successfully integrate acquisitions and drive efficiencies. This is another transformational transaction that materially accelerates growth. With the additional planned investment into developing ATA’s air tool proposition it’s an exciting time for the Group”.

ATA Group is the leading global manufacturer of tungsten carbide burs, as well as air tools and abrasive products.

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