Heuking Kühn Lüer Wojtek advises group of investors led by Apriori on acquisition of molding specialist Amtec
Heuking Kühn Lüer Wojtek advised a group of investors led by Hamburg-based Apriori Beteiligungen GmbH on the acquisition of all assets of insolvent Amtec GmbH, a manufacturer of precision injection molding tools and former Lego subsidiary, based at Hohenwestedt, Northern Germany.
Hamburg insolvency administrator Hendrik Gittermann sold the entire business operation to a group of investors comprising Apriori, Amtec general manager Bernd Haefke and other private persons in January 2013 as part of a transferring reorganization. Due to the cooperation, including with the main customers, an attractive solution has been found for the company and its employees, securing the company's continued operation at the Hohenwestedt site with close to 50 employees. The new company name will be Amtec Advanced Mould Technology GmbH. The acquisition price was not disclosed.
Amtec was established in 1956 as a subsidiary of toy manufacturer Lego and boasts some of the most modern machinery in mold-making and highly qualified employees. Its global customers include primarily companies in the medical technology industry, the automotive industry and the electronics/electrical engineering industries. Following payment delays at two major receivables, the company had filed for bankruptcy in September 2012.
Apriori is an investment company of Hamburg-based merchants, mostly taking out holdings in mid-sized companies with annual revenue of up to EUR 20 million in Northern Germany.
Counsel to Apriori Beteiligungen GmbH and private investors:
Heuking Kühn Lüer Wojtek, Hamburg
Dr. Stefan Duhnkrack (Corporate/M&A), Dr. Hans Henning Hoff (Corporate & Due Diligence), Dr. Johan-Michel Menke (Employment Law & Due Diligence).