Restructuring of an international automotive supplier

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    Restructuring of an international automotive supplier

Our Customer

Bank group and owner family


Leading automotive supplier with approx. 2,500 employees

Our Role

  • Interim Chief Restructuring Officer
  • Chief Financial Officer


Michael Hengstmann


  • 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


  • 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

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Restructuring of an international automotive supplier

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