ENTIRE SALES PROCESS
On 19 December 2019, the management of Hoesch Schwerter Profile GmbH filed for insolvency at the district court in Hagen. On 19 December 2019, Mr. Achim Thomas Thiele from Husemann, Eickhoff, Salmen & Partner GbR (Dortmund) was appointed as the preliminary insolvency administrator. By order of 1 March 2020, the insolvency proceedings concerning the assets of Hoesch Schwerter Profile GmbH were opened and Mr. Achim Thomas Thiele was appointed as insolvency administrator.
On 22 February 2021, the purchase contract for the Rolling Mill of Hoesch Schwerter Profile GmbH was signed with the investor consortium consisting of Jungheinrich AG and KION Group AG. The responsible antitrust authorities have already approved the transaction. Since 1 July, the new legal entity has been operating under the name “Schwerter Profile GmbH”. Both the insolvency administrator and the creditors' committee have approved the sale.
After comprehensive and fair negotiations with the works council and IG-Metall and after the reconciliation of interests and social plan the number of employees was reduced. Thus, around 200 jobs could be maintained in the Rolling Mill and the administration.
Furthermore, as part of the transaction, the site of around 250,000 sqm of Hoesch Schwerter Profile GmbH was sold to the city of Schwerte, which now acts as a landlord.
The team of CVM Capital Value Management GmbH around managing partner Christian Lützenrath was mandated to conduct a structured investor process in consultation with the parties involved.
CVM Team: Christian Lützenrath (Managing Partner), Oliver Lewin (Senior Consultant) and Lutz Milbradt (Consultant)
KION Group AG, based in Frankfurt am Main, is the second largest manufacturer of forklift trucks in the world and a leading supplier of warehouse automation equipment. The company generates 70% of its sales from the sale of new forklifts and maintenance services. In 2020, the company generated a turnover of € 8.3 billion with more than 36,000 employees.
Jungheinrich AG, based in Hamburg, is one of the three largest manufacturers of forklift trucks, warehouse and material flow technology worldwide as well as a European leader in warehouse technology. In 2020, the company generated a turnover of € 3.8 billion with more than 18,000 employees.
Husemann, Eickhoff, Salmen & Partner GbR is a commercial law firm consisting of auditors, tax consultants, lawyers and insolvency administrators with offices in Dortmund and Cologne as well as insolvency offices in Arnsberg, Viersen and Witten. With more than 40 professionals and a total of around 170 employees, the law firm primarily advises medium-sized German companies, family offices and companies of all sizes on all of their key tax, legal and business challenges.
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. CVM’s focus is on guiding the transactions of medium-sized companies in 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 clients’ tax and legal advisors.