Main Content

Eisenmann Paint & Assembly: Part of core business sold to investor

Boeblingen, Germany. Insolvency administrator Joachim Exner has sold part of the Paint and Assembly division of Eisenmann Anlagenbau GmbH & Co. KG to an investor. Investor talks are still ongoing for the Application Technology and Environmental Technology divisions.

The investor solution that has now been reached includes not only the entire service and spare parts business but also the continuation of the project and retrofit business. "With the sale, not only an essential part of Eisenmann's core business and technology will be retained, but also 110 jobs," Exner emphasized. "Above all, it also ensures that the more than 500 Eisenmann painting systems worldwide will continue to be supplied with service and spare parts - across the entire product range".

The buyer is the investment company Nimbus, which also has a stake in the plant manufacturer Sturm Group. The investor specializes in the acquisition of companies in transitional situations. "Nimbus is an investor who is a perfect strategic fit for Eisenmann," Exner emphasized. "The group has distinct industry know-how in plant engineering and can integrate the business into existing and powerful groups of companies".

With the latest sale, investor solutions have now been achieved for five of Eisenmann's business areas and a total of around 515 jobs have been saved: In August, Exner had sold the business unit Conveyor Systems (about 70 employees) to pentanova, as well as the Eisenmann Software subsidiary ENisco (about 50 employees) to the company Forcam GmbH, a company of the SAP founder Dietmar Hopp. In January 2020, Exner was able to take over the business operations of Eisenmann Thermal Solution GmbH & Co. KG with about 200 employees to the company Onejoon GmbH. The subsidiary Eisenmann intec GmbH & Co. KG, which was not affected by the insolvency, was also sold to SAMES KREMLIN GmbH in January, retaining around 85 jobs. A transition & qualification company has already been established for the approximately 650 employees who could not be taken over by an investor.

Meanwhile, Exner continues to drive the investor process for the remaining Eisenmann business units Application Technology and Environmental Technology.

 

Short portrait of the law firm Dr. Beck & Partner:

With 8 insolvency administrators and more than 150 employees at 8 locations in Bavaria, Dr. Beck & Partner GbR is one of the leading German insolvency administration law firms. In recent years, the firm has handled numerous well-known corporate insolvency proceedings, including corporate insolvencies with an international dimension. Joachim Exner has particular experience in the restructuring of medium-sized groups of companies, e.g. Scherer & Trier, Neumayer-Tekfor, Jakob Group, Loewe and Metz. Exner is a member of the Gravenbrucher Kreis, the association of the leading German insolvency administrators. Further information is available at: www.ra-dr-beck.de

© 2020 Eisenmann SE