Heuking Kühn Lüer Wojtek advises on sale of Imtech subsidiary Max Straube GmbH & Co. KG to Kremsmüller
A team led by Dr. Johan Schneider, partner at the commercial law firm Heuking Kühn Lüer Wojtek’s Hamburg office, legally advised Dr. Tjark Thies, Reimer Rechtsanwälte, as insolvency administrator of Max Straube GmbH & Co. KG Rohrleitungs- und Heizungsbau, a subsidiary of insolvent Imtech Deutschland GmbH & Co. KG, on the sale to Austrian Kremsmüller Beteiligungsgesellschaft mbH. Kremsmüller had prevailed in a bidding procedure against other prospective buyers. As part of the transaction, the company's premises, all assets, and all 51 workers were taken over by the buyer effective October 1, 2015. Kremsmüller intends to continue the operations of Max Straube GmbH unchanged.
Chemnitz-based Max Straube GmbH & Co. KG specializes in pipeline and plant construction. The former Imtech Deutschland subsidiary’s business activities range from power plant technology and heat generation to industrial pipeline construction and underground piping. The sale was negotiated very quickly during the preliminary insolvency proceedings and certified immediately after opening of the insolvency proceedings on October 1, 2015. The creditors' committee had approved the sale one week later.
Since 1961, Kremsmüller Group, headquartered in Steinhaus, Austria, with subsidiaries in the Netherlands and Germany, has been a one-stop provider in the field of pipeline and special container construction, including hardware and software engineering services. The group considers itself an association of networked companies with the objective of offering customers one-stop solutions in industrial plant construction.
Counsel to Insolvency Administrator Max Straube GmbH & Co. KG
Heuking Kühn Lüer Wojtek:
Dr. Johan Schneider (Reorganization/M&A; Lead),
Dr. Peter Christian Schmidt (Corporate/M&A),
David Loszynski (Reorganization/M&A), all Hamburg