In May 2018, Grammer AG, the global supplier of automotive interior components and a leading producer of seating systems for commercial vehicles, announced the acquisition of Toledo Molding & Die Inc. ("TMD"), based in Toledo, Ohio (USA). The TMD Group is a specialist in the development and production of thermoplastic products and applications mainly for vehicle interiors for the automotive and automotive supply industry. The acquisition closed on 1 October 2018.

On the financing of the acquisition, Grammer AG was advised by international law firm Ashurst. The Ashurst team was led by finance partner Bernd Egbers. He was assisted by Karsten Raupach (Counsel), Carsten Endres (Counsel) and Ena Selimbegovic (Paralegal) (all Munich). Martin Bünning (Partner) and Carina Park (Associate) (all Frankfurt) advised on tax laws.

The financing was made available by Commerzbank AG (at the same time mandated lead arranger and facility agent), UniCredit Bank AG and der HSBC Trinkhaus & Burhardt AG. The banks were advised by Bettina Steinhauer (Partner), Jennifer Seipelt (Senior Associate) and Christian Cranmore (Senior Associate) of the law firm Clifford Chance, Frankfurt.

On the acquisition of the TMD-Group, Ashurst also advised Grammer AG on corporate laws and on corporate competition law. The relevant Ashurst teams were led by corporate partner Thomas Sacher and competition partner Ute Zinsmeister, all Munich.

Ashurst has been advising Grammer AG for many years. Recently Ashurst successfully supported Grammer AG in relation to the public takeover by the Ningbo Jifeng Group.