German-based interlübke acquired by private investors
Livingstone’s Consumer sector team has advised the shareholders of interlübke on the sale of the business to a private investor group.
interlübke was founded in 1937 and is a leading manufacturer of premium system furniture in Germany. After several years of declining profitability due to difficult trading conditions, the company filed for insolvency in 2012. As a result of a comprehensive restructuring programme, the company was acquired by the Lübke GmbH & Co. KG, owned by the Lübke family who originally founded the business.
In March 2014, Leo Lübke appointed Livingstone to identify a suitable partner to acquire and further develop the company. In the sale process, Livingstone approached selected national and international acquirers. The challenge was to find a genuine partner capable of maintaining interlübke’s co-operation with its sister company COR, and the shared brand interlübke-COR. It was particularly important that the new owner was prepared to support the company through changing market conditions in the furniture business in the aftermath of the insolvency proceedings.
“The Livingstone team managed to find a perfect investor and experienced partner for interlübke, who will restore the company’s old strength and support its further growth by focused investment. We are grateful to the team for their trustworthy and professional support. This transaction will allow me personally to fully concentrate on the premium brand COR as a shareholder and managing director,” commented Leo Lübke, managing shareholder of Lübke GmbH & Co. KG.
Dr. André Schröer, Director at Livingstone Düsseldorf, said: “We are delighted to have been able to assist the Lübke family in finding an experienced and supportive partner for interlübke. Under the circumstances, the search for the perfect partner was challenging, but made possible by the seamless co-operation with the company. It has been gratifying to advise the shareholders of such a renowned company.”