I-ADVISE AG advised TAI on the acquisition of Grunewald Stade GmbH & Co. KG
Düsseldorf, August 2016: On 14 July 2016 a German subsidiary of TAI Turkish Aerospace Industries headquartered in Ankara (Turkey) acquired all shares in Grunewald Stade GmbH & Co. KG, Stade (Germany). Grunewald Stade formerly was part of Grunewald-group based in Bocholt (Germany). I-ADVISE acted as exclusive financial and tax advisor.
Grunewald Stade in particular provides assembly and machining services for specific plane components such as rudders to the Airbus plant in Stade. Additionally, maintenance and logistics related services are offered to this key customer.
TAI provides technology in design, development, modernisation, manufacturing, integration and life cycle support for integrated aerospace systems. TAI ranks amongst the top-100 global players in the aerospace and defence industry.
TAI assesses the acquisition as strategic step in response to the ongoing consolidation of the European aerospace industry. The acquisition constitutes an initial measure in TAI’s growth strategy to become global supplier in the aerospace industry.
I-ADVISE acted as financial and tax due diligence advisor and supported TAI in negotiations with the sellers.
I-ADVISE is an accounting and advisory firm specialised in transaction and valuation services and is a member of an international alliance of independent advisory firms.