Restructuring of an international mechanical engineering company

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    Restructuring of an international mechanical engineering company

Our Customer

International private equity firm


International mechanical engineering company with approx. 750 employees

Our Role

  • Interim Chief Restructuring Officer and Chief Executive Officer
  • Interim Program Office Manager
  • Interim Manager Strategic Purchasing


Michael Hengstmann, Martin Nussbaumer, Dr. Manfred Lerch und Sven Merkel


  • Negative operating result, high level of debt and break of covenants leads to liquidity and confidence crisis
  • Inefficient processes in production lead to long delivery times and a lack of delivery reliability
  • Significant quality costs and customer complaints
  • Unfocused product portfolio with partially negative product contribution margins
  • Inexperienced management in special plant construction and in crisis situations


  • Establishment of an interim Chief Restructuring Officer, Program Officers and strategic purchasing manager
  • Development of a restructuring concept and immediate implementation of measures to secure liquidity
  • Negotiations with the bank pool and owners to refinance the company
  • Establishment of a program office in the areas of sales, organization, purchasing/ SCM, production and liquidity management
  • Restructuring and implementation of measures to reduce costs and increase liquidity
  • Introduction of a project management organization
  • Start of a sales offensive
  • Preparation and implementation support for the sale of the company

Selected Results

  • Successful refinancing of the company (volume: approx. EUR 80 million)
  • Reorganisation of the management team
  • Realization of significant savings in purchasing and reduction of working capital
  • Acquisition of new key account customers and significant increase in incoming orders and sales
  • Reduction of delivery delays (minus 78%)
  • Optimization of processes and responsibilities in production
  • Tripling the operating result and sustained increase in the EBITDA margin to over 12% after years of operating losses
  • Successful sale (exit) of the company as part of a structured sales process and MBO to a financial investor

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Restructuring of an international mechanical engineering company

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