Since its foundation in 2003, itemis AG has specialized in IT consulting and the development of customer-specific software solutions in the fields of artificial intelligence, deep learning, natural language processing, autonomous mobility and digitalized processes.
In addition to providing project-related services in the IT sector, itemis AG offers various proprietary products in the licensing model (including itemis secure, itemis analyze and itemis create). Itemis focuses on the automotive, railway, and medical technology sectors.
In the 2024 financial year, itemis AG generated revenue of around EUR 24 million and currently employs around 200 people.
STRUCTURED SALES PROCESS
In July 2024, the management of itemis AG filed an application for insolvency in self-administration with the Dortmund Local Court. The general representative was Dr. David Bunzel from Husemann Partnerschaftsgesellschaft mbB Wirtschaftsprüfer Steuerberater Rechtsanwälte. Attorney Marvin Bauernfeind from the law firm BBL Brockdorff Rechtsanwaltsgesellschaft mbH was appointed preliminary administrator by the court.
The sales process was accompanied by CVM Capital Value Management GmbH.
In close cooperation with CVM and TMC, it was possible to sell the shares in itemis AG to the management (management buy-out) as part of a share deal with an insolvency plan and to save 200 jobs.
Team CVM: Kai Peppmeier (Managing Partner), Oliver Lewin (Principal), Nils Geigenmüller (Consultant)
Parallel to the M&A process, TMC Turnaround Management Consult GmbH supported the self-administration as a restructuring consultant in the continuation of the company.
Team TMC: Steffen Leininger (Partner), Anto Josic (Consultant)
Husemann Partnerschaftsgesellschaft mbB Wirtschaftsprüfer Steuerberater Rechtsanwälte is a renowned commercial law firm with 8 offices in North Rhine-Westphalia. With more than 45 professionals and a total of around 200 employees, the firm primarily advises entrepreneurs in the German SME sector, family offices and companies of all sizes on all their key tax, legal and business management challenges.
For many years, BBL has been one of Germany's leading law firms with a clear focus on special situations - restructuring, reorganization and insolvency. With more than 200 employees, including 50 lawyers, the firm is present throughout Germany and also has an office in London. BBL stands for the support of restructuring projects to overcome crises and for the support of insolvency proceedings in self-administration.
Capital Value Management GmbH ("CVM") is a transaction consultancy and an independent corporate finance advisory firm for companies in special, transitional and restructuring situations. The focus is on supporting transactions for medium-sized companies in industry, trade and services with a sales volume of between €10 million and €250 million. CVM structures, accompanies and coordinates the entire M&A process in close cooperation with the client's tax and legal advisors.
TMC Turnaround Management Consult GmbH ("TMC"), with offices in Dortmund, Wuppertal, Hamburg, Berlin and Bonn, has specialized in advising companies in turnaround situations for over 25 years. Its core competencies include reorganization and restructuring consulting, interim and risk management, distressed M&A as well as company sales and valuations.
