Attorney Dr. Dirk Andres from the AndresPartner law firm has sold all the main assets of the Schwerte foundry, including high-quality cast iron parts, to CE Capital Partners GmbH from Hamburg as part of an asset deal. The transfer of business operations is expected to take place on October 1, 2020, subject to various conditions and deadlines.
As part of a structured investor process, the buyers prevailed against various other bidders. “The offer and the overall concept convinced us and the other parties involved in the process,” explains Andres. With CE Capital, an acquirer has been found who will take over the business operations, location and around 380 employees. The Hamburg-based investment company wants to support the foundry operation over the long term and bring it back into profitability. The planned measures include extensive investments in technology and systems as well as the optimization of planning and manufacturing processes. "Hundhausen GmbH has great economic potential and we look forward to working with the company management and all employees," says CE Capital Managing Director Nicolas Neumann.
The international search for investors was carried out by the consulting company starkpartners consulting GmbH from Meerbusch. During the M&A process, CE Capital was advised by experienced restructuring and labor law experts from the Hamburg law firm Reimer Rechtsanwälte and by Knight Wendling GmbH, a leading management consultancy for the foundry industry. The parties have agreed not to disclose the purchase price and the general economic conditions. "In addition to the entire workforce and management of Walter Hundhausen, special thanks also go to the Employment Agency as well as the representatives of the works council and IG Metall, who constructively supported the process at all times in order to achieve the common goal of sustainable renovation" says Andres.
The 105 employees who can no longer be employed already received the offer in July 2020 to switch to a transfer company from the beginning of August 2020, which they - depending on the length of service for up to eleven months - with targeted further education measures and application training to mediate again in the first job market.
The employees have already been informed about the transaction and the next steps by the insolvency administration and the management, which will remain in office even after the sale.