E+H (Eisenberger + Herzog) advised a shareholder group of Krenhof AG, a West Styrian manufacturer of drop forgings and forged hand tools, on a transaction of shares to the Upper Styrian group of companies of Pankl Racing Systems AG. The signing took place on December 11, 2020; the closing is planned for early 2021. The parties agreed not to disclose the purchase price.
The group of companies around Pankl Racing Systems AG is a leading systems supplier to the racing car, luxury car and aerospace industries, with around 1,600 employees worldwide. The group has regularly purchased products from Krenhof AG for many years, so that the two companies involved in the merger already enjoy a long and successful working relationship.
The renowned forging company Krenhof AG has 300 years of history and tradition. Initially, the company specialized in the production of hand tools. The portfolio was later expanded to include the industrial sector (drop forging). Parts produced by Krenhof AG can be found in a large number of premium cars via market leaders such as MAGNA. DOKA Schalungstechnik brings Krenhof AG products to construction sites all over the world, and hardly any MAN bus or truck drives without at least a few Krenhof parts on board. Krenhof has invested unerringly in recent years, thus securing the company’s high efficiency and profitability in the long term.
Advisors to the Krenhof Shareholder Group
E+H: Dr. Alric A. Ofenheimer (Partner, Corporate/M&A, Real Estate), Mag. Dr. Christopher Engel (Partner, Corporate/M&A, Real Estate), Dr. Dieter Thalhammer (Partner, Antitrust), Dr. Tatjana Katalan (Partner, Public Law), Mag. Stefan Wartinger (Attorney at Law, Antitrust), Mag. Susanna Falkenburg (Associate, Corporate/M&A, Real Estate)