As of 1 June 2015 CIBT completed the acquisition of a leading visa services provider based outside of Bonn, Germany. For CIBT, the acquisition marks a further step during the realization of the planned growth strategy and the expansion of the business in one of Europe‘s biggest markets for visa services. CIBT has already been active on the German market for many years with its brands “CIBT” and “VisumCentrale”. The CIBT group originates from and is based in North America. From there the company over the course of the last 50 years has developed to become the leading visa and passport services company with a global presence and reach.
With about 20 employees the target company provides visa services predominantly to business customers. The founder of the business previously was the sole shareholder. Under the founder’s direction the company in the past built a solid customer basis.
Warth & Klein Grant Thornton advised CIBT in the context of the transaction. In close collaboration with CIBT’s internal M&A team in the US and the management of the German entity our corporate finance and tax colleagues from the Hamburg office looked into the chances and risks of the target company during a financial and tax due diligence. In addition, an optimal guarantee and warranty system could be established for the acquirer during the negotiations. The team around Torsten Schrimpf supported CIBT during the key phases of the transaction process. We are delighted that we could advise and support CIBT in the context of this successful transaction.
Justin Miller, Vice President Acquisitions, CIBT Global Holdings, Inc.: “Grant Thornton knows our business and what attributes and risks we focus on in prospective acquisitions. In this transaction, Grant Thornton played an integral role in our financial and operation analysis of the business, while also helping us understand and quantify potential risks in the transaction.”
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