Livingstone’s Special Situations sector team has advised the insolvency administrator Stephan Michels on the sale of the assets of Näscher-SNV GmbH, a specialist in the manufacture of drums, rollers and cylinders and conveyor technology, to Karl Georg Beteiligungsgesellschaft GmbH (‘KGB’).
“In KGB, a manufacturer of crane accessories such as crane wheels, wheel blocks and wheel sets, we found an investor which will lead the company back to a successful path“, says Ralph Näscher, CEO.
Näscher-SNV supplies customers across a broad range of sectors, including mechanical engineering and plastics, mining and materials handling, recycling, aggregates, brick and ceramics, as well as the steel and chemical industries.
Livingstone’s Düsseldorf team was appointed by Stephan Michels to manage the sale process in December 2015. Since April 2015 the company has been operating under German insolvency law. When the self-administration ended in May, KGB acquired the assets of the company out of insolvency.