Gleiss Lutz has advised Dr. Hubert Ampferl as the insolvency administrator of Lechner Holding AG and D. Lechner GmbH on his sale to investor LIVOS by way of an asset deal.
Lechner is a leading international manufacturer of custom-made kitchen worktops and splashbacks. The company found itself in dire straits in autumn 2021 due to faltering investor and financing talks and decided to continue the restructuring it had already begun by means of insolvency proceedings. On 25 November 2021, the Lechner group’s two core companies filed for insolvency at Ansbach Local Court. Gleiss Lutz also advised Lechner in the run-up to the insolvency and on the filing of its insolvency petition.
The formerly family-run company based in Rothenburg ob der Tauber became part of LIVOS Gruppe on 1 March 2022. LIVOS, an experienced investor in German mid-market companies, emerged as the winning bidder in an auction involving several potential buyers, bringing Lechner’s search for a strong investor to a successful conclusion.
The business operations of D. Lechner GmbH and Lechner Holding AG will pass to a new company, Lechner GmbH, as part of a restructuring by way of transfer. The shares in Lechner Svenska AB will also be transferred. The sale to LIVOS Gruppe secures the basis for sustainable business operations over the long term. The product portfolio and core markets in Germany, Austria, Switzerland and France will be maintained. Lechner had around 570 employees at its sites in Rothenburg ob der Tauber and Strömsnäsbruk, Sweden when the insolvency petition was filed, and the majority of those jobs will be preserved.
Lechner was advised by the following Gleiss Lutz team: Dr. Matthias Tresselt (lead, partner, Stuttgart), Dr. Alexander Nagel (counsel, Düsseldorf), Friedrich Schlott (Stuttgart), Moritz Lochmann (Munich, all Restructuring).
Mannheimer Swartling advised on the Swedish aspects of the transaction.
Insolvency administrators (Dr. Beck & Partner): Dr. Hubert Ampferl, Dr. Raik Kilper (Nuremberg).
Lechner is a leading international manufacturer of custom-made kitchen worktops and splashbacks. The company found itself in dire straits in autumn 2021 due to faltering investor and financing talks and decided to continue the restructuring it had already begun by means of insolvency proceedings. On 25 November 2021, the Lechner group’s two core companies filed for insolvency at Ansbach Local Court. Gleiss Lutz also advised Lechner in the run-up to the insolvency and on the filing of its insolvency petition.
The formerly family-run company based in Rothenburg ob der Tauber became part of LIVOS Gruppe on 1 March 2022. LIVOS, an experienced investor in German mid-market companies, emerged as the winning bidder in an auction involving several potential buyers, bringing Lechner’s search for a strong investor to a successful conclusion.
The business operations of D. Lechner GmbH and Lechner Holding AG will pass to a new company, Lechner GmbH, as part of a restructuring by way of transfer. The shares in Lechner Svenska AB will also be transferred. The sale to LIVOS Gruppe secures the basis for sustainable business operations over the long term. The product portfolio and core markets in Germany, Austria, Switzerland and France will be maintained. Lechner had around 570 employees at its sites in Rothenburg ob der Tauber and Strömsnäsbruk, Sweden when the insolvency petition was filed, and the majority of those jobs will be preserved.
Lechner was advised by the following Gleiss Lutz team: Dr. Matthias Tresselt (lead, partner, Stuttgart), Dr. Alexander Nagel (counsel, Düsseldorf), Friedrich Schlott (Stuttgart), Moritz Lochmann (Munich, all Restructuring).
Mannheimer Swartling advised on the Swedish aspects of the transaction.
Insolvency administrators (Dr. Beck & Partner): Dr. Hubert Ampferl, Dr. Raik Kilper (Nuremberg).
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