– Portuguese investor takes over the entire remaining group of companies – Takeover of all employees at home and abroad
– Transition phase of several months planned until autumn 2020
Nuremberg / Neumarkt, 20.03.2020 – Good news for the employees of Europoles GmbH & Co. KG with headquarters in Neumarkt. Following the sale of the infrastructure division of Europe’s leading manufacturer of poles, masts, and towers in April 2019, a significant step towards its renovation and continuation has now been taken, as the entire remaining lighting division has been sold to an acquirer. Following the decision of the creditors’ committee, the strategic investor Metalogalva has been awarded the contract for the entire German and foreign sites. The Portuguese company is an internationally active manufacturer of steel structures for road and rail transport, telecommunications and the energy sector, among others. The parties have agreed not to disclose the purchase price.
Thanks to the employees
“We are very pleased to have been able to find a sustainable solution for the remaining lighting division, as well,” says Alexander Reus, Managing Director of Europoles GmbH & Co KG. “Our special thanks go to the employees, whose tireless efforts have made a very significant contribution to the success of the restructuring. It was only with their support that we were able to continue the business despite insolvency, and to lay the foundation for the entry of the new investor”. The last joint step here was the move to new premises at Nürnberger Straße 48 in Neumarkt.
Metalogalva is pleased to reinforce its position in a competitive marketplace such as Germany. The transaction will increase the company’s market share in the country and make its supply chain more agile. Consequently, Metalogalva has reached a market leading position as the European leader in the lightning sector.
Implementation and completion by Autumn 2020
In their capacity as managing directors of the company’s self-administration, attorneys Vincenz von Braun and Alexander Reus, both from Anchor Management GmbH, designed the concept for the restructuring of the group of companies, consistently implemented the restructuring measures and now also sold the remaining lighting division, thus securing its continued existence. Sönke Schulz and his team from the M&A consulting firm Sigma Corporate Finance GmbH (SIGMA) were instrumental in supporting the self-administration. In a Europe-wide structured bidding process, the SIGMA team had managed all sales activities of the companies in Germany and abroad.
At a staff meeting, the employees were informed about the successful sale and the investor was introduced. Due to the current travel restrictions in Europe, a video conference was held with the head office in Trofa, Portugal.
Throughout the entire self-administration, lawyer Dr. Harald Schwartz supervised and constructively accompanied the restructuring in the interest of the creditors. The final transfer to the purchaser Metalogalva is expected to be completed until autumn 2020. “The proceedings are also very complex in legal terms due to the numerous domestic and foreign sites, so that we must expect a longer transition phase,” says restructuring expert Vincenz von Braun.
Loss of a major order triggers insolvency.
The Europoles GmbH & Co. KG had to file for judicial insolvency proceedings as a debtor in possession in October 2018, after a major order with a total volume of over 110 million euros was suddenly withdrawn by the client. Due to the loss of the major order, the group of companies, which had already invested considerable funds in the processing of the order, faced financial difficulties.
Successful future solutions for parts of the company
In the course of self-administration, other parts of the company and subsidiaries of Europoles had already been successfully sold off in advance. In April 2019, the Infrastructure Division, including its subsidiary Europoles Suisse GmbH, was sold to the Berching-based family-owned company FUCHS & Söhne GmbH. The subsidiary Europoles RMP GmbH in Lutherstadt-Eisleben went to the Kagelmann Group. In addition, Europoles Kromiss sp.z.o.o in Poland, also belonging to the Europoles Group, and the majority shareholding in Europoles Middle East LLC were sold to investors.
Founded in 1971, Metalogalva – Irmãos Silvas, SA is the oldest VigentGroup company, the national leader in its main activity: the field of steel engineering and protection. In addition, it is also one of the main European players in the production of public lighting columns and other connected structures areas, such as energy transport, renewables, telecommunications, highways, railways, and hot dip galvanizing.
Metalogalva’s vision is recognized for its excellence and incessant improvement. Consequently, the company has been recognized for the quality of its production, for its technological capacity and innovation. It is important to underline Metalogalva’s prodigious international expansion, as it is currently present more than 10 countries (Portugal, Spain, France, Germany, Belgium, United Kingdom, Algeria, Ukraine, Senegal, Brazil, and Saudi Arabia). The company’s industrial units are located in Algeria, Brazil, France, Saudi Arabia, Ukraine and Portugal.
Further information is available at: www.metalogalva.pt/en/
About anchor Management GmbH and anchor Rechtsanwälte
anchor Management GmbH and anchor Rechtsanwälte are a hybrid of management consultancy and law firm. The anchor team consists of 16 partners and around 120 employees at 12 locations in Augsburg, Braunschweig, Düsseldorf, Hanover, Hildesheim, Cologne, Mannheim, Munich, Regensburg, Stuttgart, Ulm and Weilheim i.OB.
anchor is specialized in insolvency administration and insolvency law consulting. In the past, the law firm and management consultancy have assisted and restructured numerous larger companies both outside and in insolvency. In doing so, anchor brings the entire experience and competence as insolvency specialists and business management know-how to the consultancy.
Further information is available at: www.anchor.eu.