Viessmann Group acquires service unit of Weiss Kesselbau

Munich, 01 December 2015. Insolvency administrator Dr. Jan Markus Plathner of the law firm BRINKMANN & PARTNER sold the service unit of Weiss Kessel-, Anlagen- und Maschinenbau GmbH to Viessmann Group.

2015_11_Weiss_Viessmann_RECOVWeiss Kessel-, Anlagen- und Maschinenbau GmbH, located in Dillenburg, has been producing boiler plants for biomass power stations for over 80 years and offers designated know-how in development and design of customized boiler plants. Particular focus of Weiss are boilers ranging from 20 to 50 megawatts thermal power and more than 2,000 customized Weiss boilers are in use worldwide. In 2014 Weiss realized revenues of EUR 19 million with its 56 employees; production has been outsourced several years ago. Because of difficult market conditions for biomass power stations over the last years, Weiss had to file for insolvency on July 6th 2015. The district court of Wetzlar ordered preliminary insolvency administration and appointed attorney-at-law Dr. Jan Markus Plathner from law firm Brinkmann and Partner, Frankfurt Main, as preliminary insolvency administrator.

The insolvency administrator succeeded in stabilizing business operations as well as continuing major projects and thereby set the foundation for an international sales process. In the scope of the sales process OMNICAL Industrieservice GmbH – a 100% subsidiary of Viessmann Group, a worldwide leading manufacturer of heating and cooling systems with over 11,500 employees and more then EUR 2.2 billion revenues – acquired Weiss service unit including employees through an asset deal.

ACXIT Recovery Management acted as exclusive M&A advisor to insolvency administrator Dr. Jan Markus Plathner.

About BRINKMANN & PARTNER

BRINKMANN & PARTNER was founded in Hamburg in 1980 and operates today from 32 offices across Germany. The partnership employs approximately 350 members of staff, including 105 lawyers, certified accountants and tax consultants. Since its beginning, the partnership has grown organically and is now present in all major cities in Germany. Brinkmann places special emphasis on providing personal support to each client on the spot through a partner and his team. (www.brinkmann-partner.com)

About ACXIT Recovery Management

ACXIT Recovery Management as part of the ACXIT Capital Partners group, 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 and team members of ACXIT Recovery were in charge of more than 80 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 we offer our clients comprehensive corporate finance advisory services including M&A, capital markets as well as restructuring and strategic advisory. As an independent, privately owned firm we maintain offices in Frankfurt, Berlin, Munich, Zurich, Vienna, Hong Kong as well as strong alliances in China, India and USA. (www.acxit.com)

Press contact:

ACXIT Recovery Management GmbH
Möhlstrasse 12
81675 Munich
Germany
www.acxit.com

facebook.com/acxitcapital
twitter.com/acxitcapital
xing.com/companies/acxitcapitalpartners
linkedin.com/company/acxit-capital-partners

Nikolaus J. Röver, Managing Partner
Tel.: +49-(0)89 – 215 460 00
E-mail: munich@acxit.com

Transaction Team:

Nikolaus J. Röver, Managing Partner
Dr. Daniel Kiechle, Senior Associate