Continuation of operations secured by investor - company sale on 1 January 2022 - jobs to be preserved
Farnstädt (Saalekreis) - On 1 January 2022, Schmitz Fire & Rescue GmbH will be sold to the family office of the Manns family from Munich. Its managing director Thomas Manns "is looking forward to a good cooperation with all stakeholders and partners of the traditional company." All 47 employees at the company headquarters in Farnstädt will be taken over.
Losses due to strong growth in recent years as well as corona-related delays - for example in the delivery of fire-fighting vehicles - and associated delayed customer payments put a considerable strain on the company's liquidity situation. As a result of failed financing negotiations with the shareholders of the Farnstadt-based fire fighting vehicle manufacturer, the crisis situation worsened further at the end of June 2021 and the company applied for reorganisation within the framework of self-administration. In a decision dated 28 June 2021, the competent district court in Halle (Saale) granted the company's application. The management was handed over to the reorganisation expert Gerd Pohler. At the same time, lawyer Thomas Reichelt from the law firm DiLigens was appointed provisional administrator.
The insolvency proceedings in self-administration were opened with the decision of 1 September 2021. Both the previously appointed creditors' committee and the previously provisional administrator were confirmed in office. As representatives of the creditors, they monitored and accompanied the restructuring managing director and industry expert Gerd Pohler, who continued to manage the company's business. He was supported by the restructuring experts of dmp solutions, whose consultants are active throughout Germany as restructuring experts and insolvency administrators. As lead partner of dmp solutions, Tobias Sorg looked after the company on site.
New start in January
At its committee meeting on 10 December 2021, the creditors' committee had decided to sell Schmitz Fire & Rescue GmbH to Now Invest 1 GmbH, a company of the Manns family family office from Munich. To support and prepare for the sale, the insolvency in self-administration was lifted by order of the Local Court of Halle (Saale) on 14 December 2021 and lawyer Thomas Reichelt was appointed as insolvency administrator.
"We are pleased about the new perspective of the company: to lead the business from the order of self-administration to the sale in half a year is an outstanding achievement by all involved," emphasises insolvency administrator Thomas Reichelt. "The special market conditions, the pandemic and other international difficulties made our work more difficult. Nevertheless, our experienced team managed to interest several potential investors in Schmitz Fire & Rescue and finally to present two offers to the creditors' committee. It was also important during this time that customers, employees and staff remained loyal to the company." This enabled various projects to be brought to a successful conclusion, such as the delivery of fire-fighting vehicles for the port of Abu Dhabi.
Schmitz Fire & Rescue GmbH
... develops, builds and sells fire fighting vehicles, environmental protection and hazardous goods vehicles as well as roll-off containers and special accessories both nationally and internationally. The company is still part of the Schmitz Group until 31 December 2021, the majority of which belongs to the Xuzhou Handler Spezial Verhicle Group based in Jianping (China).
DiLigens Attorneys at Law & Insolvency Administrators
... is a law firm specialising in insolvency administration, restructuring advice and litigation. For many years, the founding partners Marcello Di Stefano, Dr. Martin Linsenbarth and Thomas Reichelt have been appointed as insolvency administrators and trustees by insolvency courts in Thuringia, Saxony, Saxony-Anhalt and Hesse.
Hesse as insolvency administrators and trustees. DiLigens advises managers, shareholders, creditors and others affected by a corporate crisis in all legal matters out of court and - if necessary - also in court. With nine offices, the law firm, which was founded at the beginning of 2021, is mainly active in Central Germany. Attorney-at-law and specialist lawyer for insolvency law Thomas Reichelt has been active in insolvency administration and restructuring for many years and is regularly appointed as insolvency administrator and trustee by various courts in Central Germany.
dmp solutions
... is a law firm specialising in corporate restructuring as well as insolvency and probate proceedings with six offices across Germany. Founded in 2019, the firm was created by merging the administration divisions of the nationally active law firm Derra, Meyer & Partner and SORG Insolvenzverwaltung, which focuses on the southern German region. For many years, the founders of the firm have been successfully appointed by courts as insolvency administrators in corporate insolvencies. In addition, they provide their management and consulting expertise to companies and entrepreneurs in restructuring and reorganisation situations. Tobias Sorg and his team have already been awarded the Best of Consulting Award Mittelstand by WirtschaftsWoche in the area of restructuring in the past.
Contact: DiLigens Di Stefano Linsenbarth Reichelt / Partnerschaftsgesellschaft mbB
Dr. Martin Linsenbarth
Phone: +49 (0) 341 462581-31
Mail: halle@diligens-rechtsanwaelte.de
www.diligens-rechtsanwaelte.de