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High-speed M&A process for Whiteblue Consulting, Munich
Three weeks after filing for insolvency proceedings VISPIRON ENGINEERING GmbH acquires Whiteblue Consulting GmbH through an asset deal
Munich, April 10th, 2017 – Axel W. Bierbach, lawyer and mandated insolvency administrator for Whiteblue Consulting in Munich, successfully completed the sale of Whiteblue Consulting GmbH to VISPIRON ENGINEERING, part of VISPIRON GROUP simultaneously with the opening of the (main) insolvency proceedings; all jobs and ongoing client projects were successfully preserved.
The preliminary insolvency proceedings over the assets of Whiteblue Consulting GmbH, a consultancy firm focused on engineering and IT topics at leading corporations with a focus on technology, such as BMW, Audi and Rohde /& Schwarz, were initiated on March 22nd, 2017. Insolvency administrator Bierbach from law firm Müller-Heydenreich Bierbach & Kollegen managed to stabilize business operations and to identify an investor by means of an intensive barely three week auction process.
VISPIRON ENGINEERIG successfully completed the acquisition of the business operation effective as of April 10th, 2017 preserving all 83 employees and taking over all ongoing client projects. Given the strategic importance of the projects for the clients in areas like connectivity, e-mobility and grid integration and the current special situation at Whiteblue, the M&A process had to be completed within the shortest possible time.
The acquirer is part of the globally operating VISPIRON GROUP, a technology company with 400 employees active in the four business segments ENGINEERING, ROTEC measurement systems (measurement and analysis of torsional vibration), CARSYNC (fleet management) and ENERGY (turn-key photovoltaic power plants) with over 300 customers around the globe.
Insolvency administrator Axel W. Bierbach concludes: “I am very delighted that VISPIRON ENGINEERING succeeded in our very transparent M&A process. VISPIRON is not only a perfect match as strategic investor but also has a perfect fit for Whiteblue’s corporate culture.”
ACXIT Recovery Management was exclusively mandated to assist in the transaction.
ABOUT MÜLLER-HEYDENREICH BIERBACH & KOLLEGEN
The law firm Müller-Heydenreich Bierbach & Kollegen (www.mhbk.de) is specialized on insolvency administration for decades with attorneys-at-law in Munich and other locations in Bavaria. Six court-appointed insolvency administrators are working on insolvency proceedings at several local courts in Bavaria and Thuringia. Particular strengths of the law firm are transferring restructurings, insolvency plans, self-administration as well as group insolvencies. Attorney-at-law and insolvency administrator Axel W. Bierbach (47) is specialized in continuation of businesses and reorganization in a broad variety of businesses. He has successfully handled numerous of insolvencies. Additionally, he holds the position as chairman of ‘Verband Insolvenzverwalter Deutschlands e.V’ (Registered Association of lnsolvency Administrators) (www.vid.de) as well as a membership at Gravenbucher Kreis, an association of Germany’s foremost insolvency administrators and restructuring specialists following the exclusive InsO Excellence standard (www. gravenbrucher-kreis.de).
ABOUT ACXIT RECOVERY MANAGEMENT
ACXIT Recovery Management as part of ACXIT Capital Partners is an independent consultancy firm exclusively dedicated to distressed mergers & acquisitions. ACXIT Recovery delivers tailored solutions and transactions for small and medium sized companies as well as for insolvency administrators. The managing partners of ACXIT Recovery were in charge of more than 100 successful transactions in restructuring and insolvency situations over the last eight years.
ACXIT Capital Partners is a leading international corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and abroad. Since 1998 ACXIT offers its clients comprehensive corporate finance advisory services including M&A, capital markets as well as restructuring and strategic advisory. As an independent, privately owned firm ACXIT maintains offices in Frankfurt, Berlin, Munich, Zurich, Vienna, Hong Kong as well as strong alliances in China, India and USA. (www.acxit.com)
ACXIT Recovery Management GmbH
Nikolaus J. Röver, Managing Partner
Tel.: +49-(0)89 – 215 460 00
Nikolaus J. Röver, Managing Partner
Julian Eibel, Associate
Marko Stjepanovic, Analyst