Grunaer Weg 30
September 21, 2021
September 21, 2021
August 16, 2021
July 8, 2021
July 2, 2021
Sector: Manufacturing & Automotive
Conductix-Wampfler is a world leader in the design and manufacture of efficient energy and data transmission systems for all types of mobile equipment and machinery. They work with some of the world’s largest material handling, automation and mass transit customers.
They have a presence in more than 50 countries and needed a timesaving and streamlined tax compliance system to help its global business to fulfil the local accounting and tax requirements. The management team knew they needed professional support and advice to achieve this and called their contacts at Kreston Bansbach.
We analysed the scope of their international network to identify the precise range of services that would best suit their business – we looked at everything from tax advice to bookkeeping. We then put together an expert team to deliver everything they needed. A key member of this team was the senior manager in charge – he needed the international experience and gravitas to ensure the new financial system delivered globally.
Thomas Schlisske, Kreston Bansbach senior manager and team lead for Conductix-Wampfler, explained their role:
“We delivered a new system that was aimed at consolidating and rationalising their existing procedures including the involvement of professional advisors.”
The Bansbach team also aimed to deliver operational benefits to the business as a whole. Being able to put together a global team of experts that matched the international spread of Conductix-Wampfler was one of the main reasons for the project’s success and delivered practical results.
Kreston Bansbach understands that communication is essential to the success of any global project which is why the Kreston network is extremely well-placed to be able to deliver successful client projects. We know how to set up efficient reporting systems including tax so all the relevant information is shared with our clients. This means all local accounting and tax needs for Conductix-Wampfler’s offices were identified and addressed. And they continue to operate effectively thanks to continuous monitoring.
“The Kreston worldwide team really worked well together to help us create a tailored reporting and tax filing process for our finance team worldwide.”
Sven Wolfsperger
CFO of Conductix-Wampfler
Sector: Promotional products
Our client, Favorite Gifts, is a successful international company. They trade with several companies (like Van Helden Relatiegeschenken, EuroGifts and Giving Europe) within Europe. They are known as a “no-nonsense” company for promotional products.
Founded as a family business in 1965, it has expanded to become one of Europe’s largest companies in the sector. Its core business is advising on and supplying a vast range of promotional gifts, from colour-changing umbrellas to eco-friendly travel cups.
They import supplies from all over the world which arrive for processing at its centres in the Netherlands and Poland, before being distributed to clients across Europe. This means that dealing successfully with varying tax rules and legislative requirements is very important to the growth of the business.
Dutch accounting firm Kreston Van Herwijnen (KVH) has connected Van Helden to Kreston firms in Spain, Germany, Italy and Poland to advise on all their local legal requirements. The firms involved are Kreston Bansbach, Kreston Iberaudit, Kreston GV and BPG Poland, and they deal with issues ranging from complying with transfer pricing obligations and national VAT legislation, to setting up local branches.
Our ongoing relationship with Van Helden is helping them evolve, expand and adapt their international trading.
Cor van Gessel, Kreston Van Herwijnen, commented: “It has been a privilege getting ‘under the skin’ of the business and getting to know their people well during our long-term partnership. We continue to learn from them so we can help their business grow and be always ready for new challenges and opportunities.”
Michiel Warners, Chief Financial Officer at Van Helden, said:
“For us, the most important aspect is that we can work with people we trust as we need to share sensitive information. I can reach out to the Kreston Van Herwijnen team anytime and know I will get an answer that counts.”
Sector: Manufacturing & Automotive
Balluff is an international, family-run business specialising in sensors and automation for sectors including assembly and logistics plants. It was founded 100 years ago near Stuttgart, Germany, and has since expanded into 68 countries.
Kreston Global has worked closely with Balluff for many years, helping it develop as a global player built on solid financial foundations.
We are involved in the decision-making process at all stages, advising on everything from company formations to large acquisitions. We audit the consolidated financial statements and all German subsidiaries and look after tax matters globally.
From our side, the relationship has been led by Michael Kalmbach for the last 20 years. He said: “We are really proud to have been involved in the development of Balluff – their development is a real success story. Our dedicated team contributes to their business and tax know-how to make sure we always deliver solutions that overcome obstacles, often before they arrive.”
In addition to our ongoing audit and tax consulting advice, our focus is to help Balluff grow. Our consolidated, scaleable processes have helped them implement transfer pricing solutions to make the business work efficiently across its global footprint.
Balluff is part of a growing industry where its customers are constantly seeking to increase efficiencies and reduce costs. “Kreston Bansbach are looking forward to helping Balluff do the same”, said Michael, “we are looking forward to working alongside them in their future development. Happy 100th Anniversary!”.
“Working with Kreston Bansbach for the length of time we have, means that we have a very strong working relationship, and the Bansbach team really understand our business and what we are trying to do. They are seen by us as part of our team and we trust them to help us continue to grow as a business.”
Katrin Stegmaier-Hermie CFO at Balluff
Sector: Manufacturing & Automotive
AUMA has been developing and building electric actuators and valve gearboxes for over 50 years. It supplies a wide range of industries including water, power, oil & gas and general industry.
As a global organization with 2,600 employees and over 40 entities worldwide, AUMA is facing a growing complexity regarding financial and tax compliance, changes to existing business models as well as mergers & acquisitions. In order to keep pace with these challenges AUMA was searching for a reliable partner who is able to support its development and to deliver high quality and efficient services on a global stage.
For this reason, AUMA relies on the global network from Kreston Bansbach.
“We wanted to deliver more efficient co-ordination of the group audit and the consolidated financial statements as soon as possible,” said Eike Neumann, the Kreston Bansbach lead partner. “In addition, we enhanced managing AUMA’s international consulting project and teams.”
As a result we also work together on other consultancy intensive projects such as international transactions, international and complex transfer pricing, expansion projects as well as assisting the establishment of new AUMA companies and cross-company reorganisation projects.
Our expert team carries out complex and detailed work, such as financial, tax and legal due diligence in the context of transaction projects. We delivered on time, on budget and within all required legal deadlines.
“It was the right decision to engage Kreston as our trusted consulting company for numerous complex national and international projects. Especially the global coverage and presence of the Kreston network has proved to be a real value and key enabler for the success of our projects.”
Christoph Neubauer
Group Director Finance & Controlling
July 1, 2021
Stuttgart/Munich, June 29, 2021 – BANSBACH GmbH, one of Germany’s large medium-sized auditing and tax consulting firms headquartered in Stuttgart, today (Tuesday) acquired the majority shareholding of the Munich-based O&R group.
The merger of the company groups will create an auditing and consulting firm with combined revenues of around EUR 50 million and more than 400 employees. O&R will keep its brand and become a member, and wholly owned subsidiary, of the BANSBACH group. Both firms are also members of Kreston Global, a global network of medium-sized auditing and tax consulting firms.
The merger is the next step in BANSBACH’s strategy to expand its footprint as an integrated consulting firm throughout southern Germany. The BANSBACH group is now expanding its presence into Bavaria for the first time, in addition to Baden-Wuerttemberg, Hesse, Saxony and Thuringia. The merger also strengthens its expertise in these areas and also further expands its teams around the core competencies of auditing and tax consulting.
“We are very pleased that this strategic step will allow us to continue our expansion in southern Germany and strengthen our consulting expertise”, said BANSBACH’s managing partner and president-in-office of the German Chamber of Public Accountants, Gerhard Ziegler.
“This merger represents a strategically important milestone for the continued successful development of the O&R group”, commented Dieter Heidemann, Partner and Chairman of the Board of the O&R group.
The O&R group team comprises 45 people (of which 22 are tax advisors, auditors, lawyers, CVAs) and has over 40 years of experience especially in the areas of tax and law with a focus on corporate transactions as well as business valuations.
About BANSBACH GmbH:
The BANSBACH GmbH, co-founder of the international network Kreston International in 1971, has been comprehensively active as an auditing and tax consulting firm for medium-sized companies for over 90 years. The company’s range of services extends beyond its main focus areas to include law, corporate finance, management consulting and accounting with human resources. At 9 locations, around 350 employees advise clients of various legal forms and industries, from private individuals to major international corporations.
The BANSBACH Group includes the BTR BANSBACH GmbH, the SLP BANSBACH GmbH, the KRESTON BANSBACH GmbH, the BANSBACH Recht & Steuern GmbH, the BANSBACH Unternehmensberatung GmbH as well as the joint venture BANSBACH ECONUM Unternehmensberatung GmbH.
For more information about BANSBACH GmbH, please visit https://www.bansbach-gmbh.de/
About O&R group:
For more than 40 years, the O&R group has been providing comprehensive advice to companies and their shareholders on legal, tax, accounting and business management issues. The main areas of consulting are corporate transactions, company valuations, the analysis and answering of complex business and legal questions as well as the performance of annual audits and special audits. The O&R group includes the O&R Oppenhoff & Rädler AG, the O&R Kreston AG and the O&R GmbH Rechtsanwaltsgesellschaft.
For more information about O&R group, please visit https://or-group.com/
June 10, 2021
April 26, 2021
Sector: Manufacturing & Automotive
Balluff is an international, family-run business specialising in sensors and automation for sectors including assembly and logistics plants. It was founded 100 years ago near Stuttgart, Germany, and has since expanded into 68 countries.
Kreston Global has worked closely with Balluff for many years, helping it develop as a global player built on solid financial foundations.
We are involved in the decision-making process at all stages, advising on everything from company formations to large acquisitions. We audit the consolidated financial statements and all German subsidiaries and look after tax matters globally.
From our side, the relationship has been led by Michael Kalmbach for the last 20 years. He said: “We are really proud to have been involved in the development of Balluff – their development is a real success story. Our dedicated team contributes their business and tax know-how to make sure we always deliver solutions that overcome obstacles, often before they arrive.”
In addition to our ongoing audit and tax consulting advice, our focus is to help Balluff grow.. Our consolidated, scaleable processes have helped them implement transfer pricing solutions to make the business work efficiently across its global footprint.
Balluff is part of a growing industry where its customers are constantly seeking to increase efficiencies and reduce costs. “Kreston Bansbach are looking forward to helping Balluff do the same”, said Michael, “we are looking forward to working alongside them in their future development. Happy 100th Anniversary!”.
April 19, 2021
Sector: Manufacturing & Automotive, Technology, Media & Telecom
AUMA has been developing and building electric actuators and valve gearboxes for over 50 years. It supplies a wide range of industries including water, power, oil & gas and general industry.
As a global organization, with 2,600 employees and over 40 entites worldwide, AUMA is facing a growing complexity regarding financial and tax compliance, changes to existing business models as well as mergers & acquisitions. In order to keep pace with these challenges AUMA was searching for a reliable partner who is able to support its development and to deliver high quality and efficient services on a global stage.
For this reason, AUMA relies on the global network from Kreston Bansbach.
“We wanted to deliver more efficient co-ordination of the group audit and the consolidated financial statements as soon as possible,” said Eike Neumann, the Kreston Bansbach lead partner. “In addition, we enhanced managing AUMA’s international consulting project and teams.”
As a result, we also work together on other consultancy-intensive projects such as international transactions, international and complex transfer pricing, expansion projects as well as assisting the establishment of new AUMA companies and cross-company reorganisation projects.
Our expert team carries out complex and detailed work, such as financial, tax and legal due diligence in the context of transaction projects. We delivered on time, on budget and within all required legal deadlines.
“It was the right decision to engage Kreston as our trusted consulting company for numerous complex national and international projects. Especially the global coverage and presence of the Kreston network has proved to be a real value and key enabler for the success of our projects”, said Christoph Neubauer, Group Director Finance & Controlling.
