Winter maintenance solutions provider, Dornseif, acquired by epex Group

Livingstone Düsseldorf’s Special Situations team has advised insolvency administrator, Stefan Meyer, on the sale of major assets of Dornseif e.Kfr., to newly founded Dornseif Winterdienst GmbH, a subsidiary of epex Group Deutschland GmbH.

With headquarters in Münster, Dornseif is a leading provider of winter maintenance solutions throughout Germany. The company had annual sales of between €6 and €11m in the past three financial years, employs 47 staff, and works with 700 – 800 sub-contractors.

epex Group is one of the largest providers of building maintenance services in Germany, with a reported annual turnover of €17.5m in 2014. Dornseif Winterdienst GmbH will operate as an independent subsidiary within the epex group.

“Just five weeks after filing for insolvency, Livingstone has implemented a solution for Dornseif. A quick and professional sale process was particularly important in this situation, as customers and sub-contractors were looking for reassurance and security of service ahead of the coming winter season,” explained the administrator Stefan Meyer.

Dr André Schröer, Director at Livingstone Düsseldorf commented: “We are very pleased to have found a strong partner for Dornseif, one which is not only committed to retaining the entire workforce, but has plans to develop the company in the long-term.”