Executive
Interim
Partners
Residenzstraße 27
Preysing Palais
80333 Munich
Phone: +49 89 552 7979 20
Fax: +49 89 552 7979 01
© Copyright – Executive Interim Partners
Challenges
- Negative result and failed location strategy with two new plants in the USA
- Net liabilities of approximately EUR 120 million
- Investor with listed company
- Bank pool demanded restructuring from the owners in insolvency proceedings
Approach
- Establishment of a Chief Restructuring Officer and Chief Financial Officer
- Takeover of the management board of the holding company and managing directors in the subsidiaries
- Development and implementation of a restructuring concept
- Strategic realignment of the company
- Introduction of daily liquidity planning and control
- Generation of liquid funds of approximately EUR 60 million
- Preparation and initiation of an orderly insolvency for restructuring implementation
Selected Results
- Bridge financing through bank pool and customers and successful financial and operational restructuring within the 3-month insolvency period in close cooperation with the insolvency administrator
- Division and successful sale of the company to two strategic buyers
- All locations in Germany, Europe and the USA remained
- The proceeds of the sale were used to settle the claims of the subsidiaries’ small creditors and the large creditors with an above-average quota
Further Challenges
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