Entire sales process
In February 2019, the management of GURA filed for insolvency. On 27thFebruary 2019, Mr. Prof. Dr. Peter Neu (Köln) from D‘Avoine Teubler Neu Rechtsanwälte was appointed as the (preliminary) insolvency administrator by the district court of Cologne. By order of 1stMay 2019, the insolvency proceedings concerning the assets of Gura Fördertechnik GmbH were opened.
Already three months after the opening of the insolvency proceedings, the sustainable continuation of the company could be ensured. The business operations of GURA could be sold in the form of an asset deal to the Genak Group with its headquarters in Braunschweig. The new legal entity will be operating under the name Gura Intralogistik GmbH.
The team of CVMCapital Value Management GmbH around managing partner Jörg Schuppener was mandated on 5thApril 2019 to support the business restructuring process and to conduct a structured investor process in consultation with the parties involved. Due to the successful collaboration with the responsible persons from ATN and GURA, CVM successfully sold the company on 1stSeptember 2019 to the Genak Group.Both the insolvency administrator and the creditors' committee have approved the sale.
The majority of jobs at the production site in Lindlar could be maintained. Consequently, 55 jobs could be preserved. Moreover, to limit the consequences of employees affected by dismissals and to realise the necessary changes in a way that is fair and socially responsible, jobs were simultaneously cut by setting up a transfer company.
Capital Value Management GmbH (“CVM”) provides operational and independent corporate finance consultancy to companies going through transitional or restructuring processes as well as other exceptional situations. CVM has offices in Dortmund, Berlin and Hamburg. CVM’s focus is on guiding the transactions of medium-sized companies in industry, trade and services with a sales volume between € 10 and € 250 million. CVM designs, supports and coordinates the entire M&A process in close cooperation with the clients’ tax and legal advisors.
www.cvm-gmbh.de
D‘Avoine Teubler Neu Rechtsanwälte (“ATN”) is a commercial law firm with locations in several regions in Germany and employs more than 100 people that are specialised in the fields of restructuring and insolvency administration. Therefore, ATN has become one of the most important and leading law firms according to the German trade journal Wirtschaftswoche.
www.atn-ra.de
