ATA Acquires cutting tools companies in Netherlands and UK supporting global growth strategy.
ATA, the Irish precision-engineering multinational, has announced the acquisition of Dutch manufacturer, Van Hoorn Carbide and UK manufacturer, Industrial Tooling Corporation (ITC).
Along with ATA’s existing operations in Ireland, Germany, Switzerland, the UK and the US, the
transactions bring the group’s pro-forma 2022 revenue to circa €100 million and the global
headcount to circa 500. These deals bring to four, the number of acquisitions by ATA in just
three years, including Karnasch in Germany in 2019 and the microtool manufacturing
activities of Swiss-based Näpflin in 2021.
The transactions significantly enhance ATA’s reach and expertise in the carbide round tool
market, the largest segment of the more than $20 billion global cutting tool market. Ralph
Van Hoorn, Managing Director, Van Hoorn Carbide, and Peter Graves, Managing Director, ITC,
will continue in their current roles and join the ATA senior management team.
Peter Cosgrove, ATA CEO said,
"Van Hoorn Carbide and ITC are long-established, quality manufacturers of carbide round tools with strong positions in their markets. Both organisations are family-led with strong teams and have invested significantly in machining equipment and technology, ensuring that the highest quality tool production and processes are in place."
“These acquisitions mark an important milestone for ATA and contribute significantly to the expansion of the ATA product portfolio, geographic reach, manufacturing capacity and value proposition for our existing customers and those of Van Hoorn Carbide and ITC. With these most recent transactions, we continue to execute on our strategy to scale the business globally through organic growth complemented by targeted acquisitions.”
Van Hoorn Carbide Managing Director, Ralph Van Hoorn, said:
“We are very pleased to partner with ATA on this transaction. ATA’s global position and product range make them an exciting partner for our business and this transaction provides our staff and customers with expanded future opportunities.”
ITC Managing Director, Peter Graves, said:
“We have known ATA from their strong UK presence and brands for many years. The combination of the businesses enables us to provide a wide range of the highest quality tooling solutions to industry.”
The transactions were facilitated by debt from AIB and Bank of Ireland. Advisors to ATA
included McCann Fitzgerald (Ireland), AKD (Netherland), Burgess Salmon (UK), PWC and
Strategy&.