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.
“We are happy that even under difficult circumstances we are able to save the company and over 320 employees of DLW,” says CRO and CEO Hans-Norbert Topp. “Furthermore, with Gerflor, after years of uncertainty, the linoleum activities in Delmenhorst have an experienced and financially strong investor for future long term growth and success.”
The Transaction is subject to customary regulatory approval from the German and Austrian antitrust authorities and is expected to close in March 2018.
ABOUT DLW FLOORING GMBH
Founded in 1863, DLW is a manufacturer and distributer for high-quality resilient flooring solutions including linoleum, vinyl & LVT, fibrebonded and pool and pond liners. DLW's linoleum production site in Delmenhorst is one of four facilities worldwide and the only one in Germany. DLW distributes its products globally and generated revenues of c. €130m in 2016.
Dr. Thomas Sittel