CCT STEGELITZ GMBH RESCUED – AlphaCo acquires producer of recovered carbon black (rCB)

Stegelitz, 02 June 2021: Attorney at Law Dr. Björn Hellfeld sells cct Stegelitz GmbH to the British AlphaCo Group enabling a restructuring solution for the entire workforce.

cct Stegelitz GmbH is a well-known producer of recovered Carbon Black from used tires (rCB) supplying international tire manufacturers and other industrial companies. Since 2015, it is part of the listed Pyrolyx Group, which is also involved in the environmentally friendly recovery of Carbon Black with sites in Germany and the USA. rCB is used in the production of new tires as well as in the plastics, technical, rubber and masterbatch industries.

cct Stegelitz GmbH had to file for insolvency on the 27th of January 2021 due to high operating losses as well as a failed financing round of the group. Attorney at law Dr. Björn Hellfeld was appointed as (preliminary) insolvency administrator. An international investor process was set up within a very short period and numerous investors could be attracted, although business operations were on hold. After several rounds of negotiations, the British AlphaCo Group was selected as new investor being able to convince with the most viable and attractive offer. The production site in Stegelitz and all employees will be taken over by way of an asset deal.

AlphaCo Group is a UK-based company specializing in the production of alternative petrochemical products. With its Polish subsidiary EuroEco Fuels Poland Sp. z.o.o., the group currently recycles over 70,000 tons of rubber per year. Its shareholders have provided AlphaCo with equity capital of EUR 60 million to invest in sustainable business models. The acquisition of cct Stegelitz GmbH will further strengthen AlphaCo’s position as a leader in waste rubber processing as well as its presence in Europe.

ACXIT Recovery Management acted as exclusive M&A advisor to cct Stegelitz GmbH and the preliminary insolvency administrator during the investor process.

About Dr. Björn Hellfeld

Dr. Björn Hellfeld is a specialist in insolvency law of the law firm Pohlmann Hofmann Insolvenzverwalter Rechtsanwälte Partnerschaft, which specializes in insolvency administration, self-administration and restructuring. With over 20 professionals, a team of c. 60 employees and offices in Munich, Augsburg, Ulm and Miesbach, Pohlmann Hofmann Insolvenzverwalter Rechtsanwälte Partnerschaft handles insolvency cases across Germany.

About ACXIT

ACXIT Capital Partners is a leading international corporate finance and financial advisory firm for mid-market clients, and entrepreneurs in Europe and beyond. Since 1998, we offer our clients comprehensive corporate finance advisory services including M&A and capital markets advisory as well as debt and strategic advisory. As an independent, privately owned firm we maintain offices and representations in Frankfurt, Munich, Zurich, Hong Kong and New York as well as strong alliances in the UK and France.

ACXIT Recovery develops and structures customized solutions for distressed Mergers & Acquisitions and focusses on financial restructuring for mid-size companies and insolvency administrators.

Transaction Lead ACXIT Capital Partners

Christian Nicolas Bächstädt, Managing Partner

 

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