Livingstone’s Industrial sector team has advised Dr. Marc d’Avoine, the administrator of Intensiv-Filter on its sale to Delhi-based strategic investor Himenviro Environmental Technologies.
Intensiv-Filter is a specialist engineering group headquartered in Velbert-Langenberg in North Rhine Westphalia, which designs, develops, manufactures and installs dust filters for industrial applications across a wide range of business areas. The company is a pioneer in the field of energy-efficient environmentally friendly dust filtration solutions and has an international customer base of blue-chip companies. Prior to suffering financial difficulties, the company generated over €50m in sales.
Following the appointment of the administrator in July 2012, Livingstone was appointed to identify a supportive new investor as quickly as possible. Himenviro Environmental Technologies emerged as the preferred buyer as it offered the best strategic fit for the business, and the transaction was concluded in September.
“With the sale to Himenviro we have secured 60 jobs in Velbert-Langenberg while at the same time, we have found an investor that is committed to restoring Intensiv-Filter back to a successful path,”commented Dr. Marc d’Avoine, a lawyer at law firm ATN d’Avoine Teubler Neu.
“We are convinced that we will be able to reposition Intensive-Filter with its 90-year history and its outstanding reputation in the industry, and put it on a sound footing again,” said Manoj Garg, CEO of Himenviro Environmental Technologies.
Dr André Schröer, Director at Livingstone Düsseldorf, commented: “We are very pleased to have found a strong partner for Intensiv-Filter in just eight weeks time and that we were able to help one of the world’s oldest filter manufacturer take this decisive step.”