09-20-2018

Heuking Kühn Lüer Wojtek advises Bavaria Yachtbau GmbH on successful sale




A team led by Prof. Dr. Georg Streit and Dr. Arnold Büssemaker successfully advised Bavaria Yachtbau GmbH on the sale of its company in a bidding process. Following negotiations with several investors until recently, a fund advised by CMP Capital Management-Partners GmbH will now take over the business operations of Bavaria Yachtbau GmbH and its French subsidiary Bavaria Catamarans SAS. All employees will be taken over. The creditors’ committee and the administrator have already given their approval. The transaction is subject to the usual approval by the German Federal Cartel Office.
 
In April 2018, the boat builder filed for insolvency. Led in (provisional) self-administration by experienced shipyard reorganization expert Dr. Tobias Brinkmann (Brinkmann und Partner, Hamburg), and accompanied by administrator Dr. Hubert Ampferl (Dr. Beck & Partner), the company had continued its manufacturing operations despite the insolvency, building and delivering some 220 yachts. Giebelstadt-based Bavaria Yachtbau GmbH is one of Germany’s largest shipyards with boat manufacturing going back 40 years. At peak times, the company produced more than 3,000 sailing yachts, motor boats, and catamarans annually.
 
Founded in 2000, CMP Capital Management-Partners is a German investment firm specializing in the acquisition of companies in turnaround and transition situations in Germany, Austria, and Switzerland. The CMP Group funds are advised by Berlin-based CMP Capital Management-Partner GmbH. CMP employees who are taking out a stake in the company assume operational management responsibility on site.
 
The Restructuring Practice Group consists of about 50 lawyers and tax advisors with special experience and qualifications in insolvency law, reorganization, restructuring, and distressed M&A. The team provides comprehensive legal advice and litigation in all areas relating to crisis/reorganization/insolvency.

Counsel to Bavaria Yachtbau GmbH
Heuking Kühn Lüer Wojtek:

Prof. Dr. Georg Streit
Dr. Arnold Büssemaker (both Restructuring, both Lead),
Boris Dürr (Corporate/M&A),
Dr. Stephan Degen (French Desk, Tax),
Dr. Oliver Treptow (Corporate/M&A),
Dr. Fabian Bürk, LL.M.
Dr. Kai Uwe Büchler (both Restructuring),
Steffen Wilberg (Real Estate & Construction)
Dr. Reinhard Siegert (Antitrust),
Dr. Ulrich Jork (Corporate/M&A),
Astrid Wellhöner, LL.M. (Employment), all Munich
Dr. Marc P. Scheunemann, LL.M. (Tax/M&A), Düsseldorf
Dr. Søren Pietzcker, LL.M. (IP/IT), Hamburg
Dr. André-M. Szesny, LL.M.,
Dr. Susanne Stauder (both Compliance, Düsseldorf)

Contacts

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