Geers 24 GmbH, trading as geersCUTTING, is a subsidiary of the insolvent GB Holding GmbH and offers individualised laser cutting as well as bending of various sheet metals for private and business customers. The product portfolio includes the processing of steel, stainless steel and aluminium.
Geers 24 GmbH sold to former sister company
STRUCTURED SALES PROCESS
On 19 December 2019 Mr. Horst Piepenburg of Piepenburg Rechtsanwälte (Düsseldorf) was appointed as the preliminary insolvency administrator of GB Holding GmbH by the Local Court of Hagen. The objective of the insolvency proceedings was to sell Geers 24 GmbH as a wholly owned subsidiary of GB Holding GmbH within the framework of a structured investor process. On 01.03.2020, insolvency proceedings were opened over the assets of GB Holding GmbH and Mr. Horst Piepenburg was appointed as insolvency administrator.
The team of CVM Capital Value Management GmbH around managing partner Christian Lützenrath was mandated by the management of GB Holding GmbH and the insolvency administrator to conduct a structured M&A process. Through the successful cooperation with Mr. Horst Piepenburg and Mr. Wolfgang Piroth from the law firm Piepenburg Rechtsanwälte as well as Mr. Ingo Gerdes from the law firm Taylor Wessing Partnerschaftsgesellschaft mbB and the management of GB Holding GmbH, CVM successfully sold the company to RSA cutting technologies GmbH with effect of 01 July 2021. The creditors' committee of GB Holding GmbH has approved the sale.
CVM Team: Christian Lützenrath (Managing Partner) and Maximilian Bucher (Consultant)
RSA cutting technologies GmbH is a former subsidiary of GB Holding GmbH, which had previously been sold to FMC Beteiligungs KG in the course of the insolvency proceedings. The company specialises in the sawing and final deburring of metal products and processes any metal from aluminium to titanium. The head office is in Schwerte, but a large number of other locations enable the company to operate internationally.
Piepenburg Rechtsanwälte is an independent commercial law firm based in Germany, specialising primarily in insolvency and restructuring as well as in core areas of commercial law. Almost 100 employees work at the ten offices in Düsseldorf, Cologne, Mönchengladbach, Aachen, Potsdam, Dortmund, Bielefeld, Salzkotten, Werl and Bad Salzuflen.
Taylor Wessing is a leading commercial law firm advising national and multinational companies worldwide on all aspects of national and international commercial law. With more than 1,000 lawyers in 28 locations - in Europe, the Middle East, Asia and representative offices in the USA - Taylor Wessing offers highly qualified legal advice.
Capital Value Management GmbH ("CVM") provides operational and independent corporate finance consultancy to companies going through transitional or restructuring processes as well as other exceptional situations. The focus is on guiding transactions of medium-sized companies from industry, trade and services with a sales volume between € 10 and 250 million. CVM designs, supports and coordinates the entire M&A process in close cooperation with the client's tax and legal advisors.