HB Schutzbekleidung acquires main product segments and registered trademarks of Tempex Schutzbekleidung
Frankfurt, 15 January 2016. Insolvent Tempex GmbH has sold its cold, heat and multifunctional protection product segments including all registered trademarks to HB Schutzbekleidung.
For more than 60 years, Tempex has been developing and producing work protective clothing combining maximum comfort with highest protection. Being a member of Ploucquet Group since 1963, Tempex has been taken over by a private investor in 2005. In 2014 Tempex commanded over 62 employees and realized revenues of over EUR 10m. On 25 June 2015, Tempex filed for insolvency under debtor in possession. For restructuring Tempex, Walter Wiedenmann has been appointed as chief restructuring officer and insolvency attorney Matthias Kühne provided additional assistance (Kanzlei Nickert, Offenburg). In alignment with the committee of creditors and the appointed custodian Prof. Dr. Martin Hörmann (anchor, Ulm), a structured sales process had been set up parallel to negotiations of an insolvency plan.
Prof. Hörmann, appointed custodian of Tempex GmbH: “By implementing a structured M&A process, we wanted to maintain all possible options and provide high transparency to the committee of creditors for its decision. We therefore supported both concepts from the beginning.”
Finally, the more attractive concept succeeded and the committee of creditors as well as the previous owner Tempex holding AG, Rüschlikon/Switzerland decided for the sale to HB Schutzbekleidung. HB Schutzbekleidung intends to shift production to its own facilities and plans to discontinue production at former Tempex site in Heidenheim by March 2016. The remaining employees were offered the opportunity to move to a holding company for professional reorientation. Founded in 1952, HB Schutzbekleidung is one of today’s leading manufacturers of PPE garments for serious hazards like heat, flame, electric arc flash, HI-VISION weather protection and ESD clothing. In its seven sites located in six countries the company manufactures over one million parts each year.
ACXIT Recovery Management has been mandated as exclusive M&A advisor. Attorney at law Dr. Andree Gossak (GOSSAK Rechtsanwälte, Stuttgart) provided comprehensive legal support to the M&A process.
About anchor Rechtsanwälte
Law firm and management consultancy anchor Rechtsanwälte is specialized in insolvency law, divided into the two areas of insolvency administration and insolvency consulting. With over 100 employees anchor is located in Augsburg, Braunschweig, Hannover, Hildesheim, Mannheim, München, Peißenberg, Stuttgart and Ulm. Prof. Dr. Martin Hörmann is partner of anchor Rechtsanwälte and accompanied several large firms through insolvency proceedings in recent years. (www.anchor.eu)
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 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. (www.acxit.com)
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