Jeffery Perkins, a managing director at Harris Williams & Co., stated, "We are very happy that Grohmann Engineering has found a new partner in Tesla that will greatly benefit from Grohmann Engineering's technological leadership, while also supporting the company's continued growth and Industry 4.0 leadership role in its selected end markets. This transaction further demonstrates Harris Williams & Co.'s focus on advising market leading family owned businesses and supporting them on finding their optimal partner. We very much enjoyed working with Mr. Grohmann and his team on this successful transaction."Founded in 1983 and headquartered in Pruem, Germany, Grohmann Engineering develops and manufactures production lines for industrial automation and markets them worldwide. Working closely with clients and suppliers, the company is a key contributor to breakthrough technologies, for example, those required for the industrial production and assembly of lithium-ion batteries and the testing of microchips and wafers. In addition to the automotive, electronics and semiconductor industries, the company's machines and plants are also employed in biotechnology and medical applications. In recent years, Grohmann Engineering has developed and realized numerous lines for German and international automobile manufacturers on which battery cells and batteries for electric vehicles are produced. DBAG, a listed private equity company, initiates closed-end private equity funds and invests alongside the DBAG funds in well-positioned mid-sized companies with potential for development. DBAG focuses on industrial sectors in which Germany's 'Mittelstand' is particularly strong on an international comparison. With its experience, expertise and equity, DBAG supports the portfolio companies in implementing corporate strategies that sustainably create value. Its entrepreneurial approach to investing has made DBAG a sought-after investment partner in the German-speaking world. Assets under management or advice by the DBAG Group amount to approximately €1.8 billion. Tesla designs, develops, manufactures and sells electric vehicles and energy storage products. The company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products. Its energy storage products include the seven kilowatt-hour and 10 kilowatt-hour Powerwall for residential applications, and the 100 kilowatt-hour Powerpack for commercial and industrial applications. The company delivers energy storage products under the Tesla Energy brand. It manufactures its products primarily at its facilities in Fremont, California, Lathrop, California, Tilburg, Netherlands and at its Gigafactory near Reno, Nevada. It is using battery packs manufactured at the Gigafactory for its energy storage products.
Harris Williams & Co. ( www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business. For media inquiries, please contact Katie Hurst, associate brand manager, at +1 (804) 648-0072.