VBG Group subsidiary Ringfeder Power Transmission acquires Tschan
Ringfeder Power Transmission GmbH, a subsidiary of VBG Group AB, has acquired Tschan GmbH from the former sole owner.
Ringfeder Power Transmission is a world-leading supplier of products in the areas of mechanical power transmission and energy and shock absorption. Tschan is a leading provider of mechanical shaft couplings, mainly for heavy-duty engineering. The company was in distress and has undergone a restructuring in self-administration under German insolvency law. Such restructuring was a key precondition for Ringfeder Power Transmission to complete the acquisition. The acquired entity includes subsidiaries in the US and in India. Following consolidation, it is estimated that Ringfeder Power Transmission will have an annual turnover of EUR 43 million and approximately 250 employees.
Ringfeder Power Transmission was advised by Mannheimer Swartling in the transaction. The firm's team in Germany was led by Oliver Cleblad, primarily assisted by Caroline Siebenbrock, Rafael Hertz (employment) and Christina Griebeler (finance). Maria Tufvesson Shuck, from the firm's office in New York, advised on US aspects of the matter.