Automotive supplier AUER GUSS rescued in less than 3 months

Amberg, 28 February 2019. Dr. Hubert Ampferl, Partner of law firm Dr. Beck & Partner, successfully concludes the sale of AUER GUSS Group.

AUER GUSS Group is a well-established automotive supplier offering aluminum and magnesium die-cast parts to leading customers in the automotive industry. The group consists of AUER GUSS GmbH and the two subsidiaries AUER Metallkomponenten GmbH and Czech Technotool s.r.o. The company has approx. 230 employees and operates three locations in Amberg (Bavaria/Germany) as well as Asch (Czech Republic).

A lower demand for new cars led to a decline in sales at AUER GUSS in 2018. In addition, high start-up costs for new projects had a negative impact on the company’s results. As a consequence, the management of AUER GUSS filed for insolvency in late November 2018 and the Local Court of Amberg has appointed Dr. Hubert Ampferl as preliminary insolvency administrator. Despite the difficult situation in the automotive market, the insolvency administrator and his team succeeded in stabilising the company’s operations and thus created the conditions for an international M&A process.

Despite the Christmas holidays, it was possible to win numerous interested parties for AUER GUSS and a number of bids had been received by beginning of January. After various negotiation rounds with the most promising bidders and in alignment with major customers, the creditors’ committee decided to sell the company to gh Beteiligungs GmbH via an asset deal. gh Beteiligungs GmbH is a holding company with clear focus on the long-term development of its investments, mainly medium-sized companies in the automotive sector with high expertise in demanding and promising technologies.
The acquisition by gh Beteiligungs GmbH will secure all three locations of AUER GUSS and provide a new future to the company. The transaction is still subject to approval by the antitrust authorities.

ACXIT Recovery Management exclusively supported AUER GUSS Group and the insolvency administrator as M&A advisors in the sales process.

About Attorney at Law Dr. Hubert Ampferl:
The Dr. Hubert Ampferl is partner of the law firm Dr. Beck & Partner GbR. Amongst others, Dr. Ampferl is insolvency administrator resp. trustee of Bavaria Yachtbau GmbH, Luitpoldhütte AG, Müller-Brot GmbH, René Lezard Mode GmbH and Wöhrl Mode und Textilhandelsdienstleistungen GmbH.
With 8 insolvency administrators and more than 175 employees, Dr. Beck & Partner is one of the leading law firms working exclusively in the field of insolvency administration and insolvency law. The company has offices in Nuremberg, Munich, Regensburg, Ansbach, Hof, Wurzburg, Augsburg and Landshut. (www.ra-dr-beck.de).

About ACXIT Recovery Management:
ACXIT Recovery Management, a 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 have been in charge of more than 100 successful transactions in restructuring and insolvency situations over the last eight years. (recovery.acxit.com)

ACXIT Capital Partners is a leading independent corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. As an independent and privately owned firm, ACXIT maintains offices and representations in Frankfurt, Berlin, Munich, Leipzig, Zurich, Hong Kong and New York as well as strong alliances in France, China and India.

Contact ACXIT Recovery Management
Christian Nicolas Bächstädt, Managing Partner
baechstaedt@acxit.com

 

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