The County Durham-based business has been bought for an undisclosed sum and is subject to approval by the anti-trust authorities.
GT Group specialises in the development and manufacture of EGR valves and exhaust brakes for diesel engines used in the commercial vehicle sector. The owner-managed company with around 250 employees operates from four locations in the Peterlee area and ranks in both product segments among the worldwide market leaders.
“The strategic fit of GT Group to Knorr-Bremse and the strong position of our combined businesses will enable us to meet the needs of our worldwide customers regarding the emission-compliant operation of diesel engines even more comprehensively,” explains Dr Peter Laier, member of the executive board of Knorr-Bremse AG, responsible for its commercial vehicle systems division.
The move, says Laier, gives Knorr-Bremse access to GT’s expertise in new technologies, such as mechatronic exhaust valves, and it is planning a “close engineering collaboration”.
GT group chairman Geoff Turnbull (pictured, left, with Thorsten Seehars, member of the management board of Knorr-Bremse Systems for Commercial Vehicles) says Knorr-Bremse is “the perfect custodian” for his business.
“The support it will provide to GT Group’s established and experienced management team will maintain our trajectory of growth and maximise new opportunities across international markets. With the expertise of our workforce and the support of its new owners, I am confident I am leaving the business in very safe hands.”