Successful Restart of METRIC
Frankfurt, 12 October 2016. Technology company METRIC mobility solutions AG (“METRIC”) has been successfully sold. Two subsidiaries of DUTECH HOLDINGS, based in Singapore, have taken over the entire business operations.
Both subsidiaries in Hannover and in Swindon (UK) will remain in operation, additionally the investor has taken over numerous employees. The company will employ about 300 people. The METRIC Group is a leading solution and service partner in the field of systems for recording, validating and processing data and generated revenues of about EUR 70m in 2015. The product portfolio includes ticketing systems, mobile data capture systems as well as car park terminals. Clients comprise of leading transport and trading companies.
The business units Retail & Logistics and Public Transport, both being based in Hannover, will be acquired in an asset deal by ALMEX GmbH, a newly set up DUTECH company. ALMEX GmbH, based in Hessisch-Lichtenau, will employ over 125 METRIC employees. The British METRIC Group Holdings Ltd. (business unit Parking Systems) was sold to Tri Star Security Pte. Ltd. in a share deal. Tri Star Security Pte. Ltd., a DUTECH company, will employ around 170 additional METRIC employees. The total purchase price for all business units is within the single-digit million range. The creditors agreed to the sale, while the transfer of business is already completed.
METRIC mobility solutions AG has started its restructuring process under self-administration in July 2016 supported by the experienced restructuring expert Manuel Sack from the law firm Brinkmann & Partner and has already passed through a fundamental reorganisation. Dr. Rainer Eckert, Partner of Eckert Rechtsanwälte, was appointed the supervising trustee. Supported by ACXIT Recovery Management, Frankfurt and Munich, the management board simultaneously started its search for strategic partners. The business operations were successfully continued during the entire restructuring process. “We would like to thank all parties who have contributed to the successful restructuring of METRIC”, emphasised Thomas Dibbern, CEO of METRIC mobility solutions AG.
DUTECH is an international technology corporation focussing on the manufacturing of cash management systems, cash machines and further complex self-service machines. The company is already represented in Germany with two manufacturing sites. All business units of METRIC will continue to operate and will be further developed within the structure of the group. “In DUTECH we have found the ideal partner for the constant growth of all our business units”, according to Dibbern.
About Brinkmann & Partner
Brinkmann & Partner was founded in Hamburg in 1980 and operates from 30 offices across Germany today. The firm employs approximately 300 members of staff, including 100 lawyers, certified accountants and tax consultants. Entrepreneurially minded BRINKMANN & PARTNER combines the fields of insolvencies, restructuring and tax advice in an interdisciplinary approach. In doing so the partnership has gained a leading reputation in the restructuring of companies and is one of the largest German insolvency law firms with over 20 insolvency practitioners. (www.brinkmann-partner.com)
About Eckert Rechtsanwälte
As a joint practice consisting of highly qualified lawyers and tax specialists, Eckert Rechtsanwälte operates nationwide and has offices in northern, western and eastern Germany. The services are tailored to both the corporate sector as well as private individuals and cover all aspects of commercial law. The firm is specialised in liquidation and offers advisory services for insolvency cases. Dr. Rainer Eckert is one of the leading insolvency administrators in Northern Germany and has worked on numerous regional and national insolvencies. (www.rae-eckert.de)
ACXIT Capital Partners is a leading independent corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. Since 1998, ACXIT offers its clients comprehensive corporate finance advisory services including M&A and capital markets advisory as well as restructuring, equity/debt and strategic advisory. As an independent, privately owned firm we maintain offices and representations in Frankfurt, Berlin, Munich, Leipzig, Zurich, Hong Kong and New York, as well as strong alliances in France, China and India. (www.acxit.com)
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