Viessmann takes over insolvent wibutler with assistance by Heuking Kühn Lüer Wojtek
A team led by Hamburg-based partner Dr. Johan Schneider advised Viessmann Group on the acquisition of insolvent wibutler GmbH in Münster, a manufacturer of smart home solutions. The acquisition complements Viessmann’s product range in the smart home sector. Both the wibutler brand and the development and production site Münster, where management and jobs are retained, will be strengthened by the transaction.
Viessmann Group is a manufacturer of energy systems. With over 12,000 employees, the family-owned company generated sales of EUR 2.37 billion in 2017. Viessmann provides individual solutions with efficient systems and outputs from 1 kW to 120,000 kW for all application areas and energy sources.
Founded in 2012, wibutler GmbH employs 26 people and specializes in open-source smart home solutions. Via an app, the company offers industry partners a platform for networking different products. Experiencing a financial crisis, wibutler GmbH was forced to file for insolvency at the end of January 2018. On April 1, 2018, the competent insolvency court initiated insolvency proceedings and ordered self-administration. During the period of self-administration, the company was sold.
Counsel to Viessmann Group
Heuking Kühn Lüer Wojtek:
Dr. Johan Schneider (Reorganization/Lead),
David Loszynski (Reorganization /Distressed M&A),
Dr. Marcus Georg Tischler (Reorganization),
Dr. Søren Pietzcker, LL.M. (IP/IT),
Dr. Eva Kettner, LL.B. (Employment), all Hamburg
Dr. Anton Horn (Patent Law), Düsseldorf