Distressed M&A

Garder son sang-froid même en cas de pression, et préserver tant que possible les intérêts de toutes les parties impliquées. En restant pragmatique et calme.

Vaincre la complexité

Si, en raison de difficultés économiques ou financières, une entreprise doit se séparer d’une de ses activités ou, au contraire, elle identifie une opportunité d’acquisition bon marché, la mise en œuvre de l’opération exige beaucoup de prudence, de rationalité et de rapidité. Les spécialistes en fusions-acquisitions de goetzpartners ont toute la connaissance et l’expérience nécessaires pour apporter une aide déterminante aux entreprises, banques, investisseurs et managers dans les situations spéciales ou difficiles – en tant que conseils à l’achat comme à la vente. Face aux cas complexes de restructuration ou de cessation de paiement, notre double compétence dans les domaines des restructurations d’entreprises et du corporate finance est un gage de création de valeur sur le long terme. Nos nombreuses références en la matière reflètent la confiance qu’accordent à goetzpartners les administrateurs judiciaires, fiduciaires, créanciers, investisseurs financiers, banques et autres entreprises.

L’expertise de goetzpartners en matière de Distressed M&A :

  • Interventions réussies dans le monde entier auprès de PME et de grands groupes
  • Expérience à la fois des restructurations et des procédures judiciaires
  • Expertise sectorielle profonde
  • Combinaison de compétences en restructuration et en corporate finance
  • Vaste réseau international de décideurs de premier rang facilitant l’identification et l’approche des contreparties pertinentes


expertisE DU SECTEUR

Latest transactions – Distressed M&A

goetzpartners advised DLW Flooring GmbH on the sale of its linoleum activities

France based Gerflor SAS, a global leader in the production and distribution of flooring, wallcovering and finishes has signed a binding agreement to acquire DLW Flooring GmbH’s (“DLW") linoleum activities. The transaction includes the takeover of the production facility and workforce in Delmenhorst (Germany) as well as part of DLW’s sales force and support functions in Bietigheim-Bissingen.

In March 2017, Hans-Norbert Topp was appointed CRO and CEO of DLW. Since then, the Company was undergoing an extensive restructuring and given a liquidity shortage, management filed for insolvency under self-administration in accordance with §270a InsO ("vorläufige Eigenverwaltung") in October 2017. goetzpartners acted as the exclusive financial advisor to the self-administration and has successfully managed the complex asset disposal process. Read more

goetzpartners advised Rudolf Wöhrl AG in the sale to Christian Greiner

Christian Greiner is expected to be the new owner of the multi-brand fashion retailer Rudolf Woehrl AG. The creditor assemblies of Rudolf Woehrl AG and its 100% subsidiary Rudolf Woehrl, das Haus der Markenkleidung GmbH & Co. KG approved Mr. Greiner’s offer on January 31st, 2017 as the best result of a structured and competitive M&A process.

Since 2011 Mr. Greiner is director of fashion retailer Ludwig Beck in Munich, responsible for sourcing, sales and marketing, as well as CEO of fashion retailer Wormland.

The signed investment agreement between Christian Greiner and Rudolf Wöhrl AG includes the following key terms:

  • Mr. Greiner will acquire 100% of the shares of Rudolf Woehrl AG
  • The purchase price will enable a creditor pay-out rate of 10% to 20%, which is significantly above the     German average of c. 5% (according to the German Federal Statistical Office)
  • Mr. Greiner intends to continue the initiated restructuring measures
  • The investor will also provide the company with sufficient liquidity to finance Woehrl’s “restart”
  • 95% of all jobs will be preserved
  • It is planned to retain Rudolf Woehrl AG in its current structure without additional store closures.

Read more

goetzpartners advised the fully authorised representative (“Generalbevollmächtigter”) of SCHNELL Motoren AG on the sale of their assets to TEDOM A.S

TEDOM a.s. the Czech Republic-based company engaged in design, development and sale of equipment for combined heat and power (CHP) production, has signed a definite agreement to acquire the assets of SCHNELL Motoren AG, the Germany-based manufacturer of high efficiency CHP units.

The transaction marks the latest step in TEDOM's strategy, continuing to reinforce its European footprint and particularly to strengthen its position in the German market. Josef Jeleček, TEDOM CEO, explained that "SCHNELL is one of the strongest brands for biogas CHP units. It uses unique technology, so called dual engines, which are well known for their high efficiency. SCHNELL also has a comprehensive service network covering whole Germany." Andreas Elsäßer, fully authorised representative of SCHNELL Motoren AG said that “in particular TEDOM’s final transaction structure and vision for the company, initially developed by Wieselhuber & Partner, as well as the highly efficient and focused auction process led by goetzpartners, were key success factors for the transaction”.
Read more

goetzpartners advised Nobia AB on the sale of its majority stake in Poggenpohl to ADCURAM Group AG

Nobia AB, the Swedish listed kitchen specialist, has today announced the divestment of its majority stake (98.57%) in Poggenpohl Möbelwerke to Munich-based industrial holding ADCURAM Group AG.

Headquartered in Herford (Northrhine-Westfalia), Germany, Poggenpohl Group is one of the globally leading luxury kitchen manufacturers. The company produces high-quality kitchens with extraordinary design and sells them in more than 70 countries around the world. The company generates annual revenues of c. 110 million EUR and employs around 500 staff. It was founded in 1892 by Friedemir Poggenpohl as Germany's first kitchen brand.

With ADCURAM Group, Poggenpohl's new majority owner, the company will enter into a new growth phase by investing into Poggenpohl’s positioning as a leading luxury brand, the expansion of the product portfolio, support for retail partners and the Poggenpohl operated stores, as well as the optimization of its production process. Read more