Livingstone’s Special Situations team has advised on the sale of major assets of Apparatebau Kötters GmbH, a supplier of transmissions, drive elements and machine components for special purpose mechanical engineering.
Apparatebau Kötters GmbH is a provider of turning, milling, welding, lacquering and assembly services for the implementation of customer-oriented solutions for individual and special components. Founded in 1978, the company has 50 employees and has achieved annual sales of around € 10 million over the past three financial years. Law firm Wölte & Kischko, Essen, was appointed as insolvency administrators, continuing to run the business as a going concern, until such times as a buyer could be found and the insolvency process successfully completed.
“It was imperative that the process was completed within a very short timeframe as suppliers and customers required planning security for the coming fiscal year.” explained Insolvency Administrator Michael Wölte at.
Hans-Jörg Stäritz, CEO and shareholder of the acquiring company Kötters Maschinenbau commented: “We believe in the long-term viability of the company. The acquisition will secure the future of the entire workforce, and with our plans to expand the operation, will continue to strengthen and support the local economy.”
“We are very pleased to have found a strong partner for Kötters, which will support and develop the company in the long-term,” said Daniel Hohler, Associate Director at Livingstone Düsseldorf.