The IMAP team for M&A transactions in special situations, advised Awetis GmbH (AWETIS) during their insolvency proceedings in self-administration, on the sale of its subsidiary Awetis Systems GmbH & Co. KG. Freudenberg Group, headquartered in Weinheim, acquired 100% of the shares.
AWETIS, developed as a spin-off from Freudenberg Group in 2010, is a specialist in the automation and tool technology for the production of elastomer, silicone and filter production. The turn-key-solutions are used mainly in the automotive, consumer goods, mechanical and plant engineering as well as medical technology sectors.
The fully owned subsidiary Awetis Systems GmbH & Co. KG provides production-related IT for process optimization, production management and transparent data collection.
AWETIS had filed for insolvency proceedings in self-administration in April, which was agreed to by the local court of Mannheim. In addition, Jochen Glück from PLUTA Management GmbH was appointed as Managing Director by the company. Tobias Wahl from the law firm Anchor Rechtsanwälte is trustee.
IMAP, as part of a limited auction, only approached selected investors. The sale of the subsidiary is a successful initial step in the restructuring process of AWETIS.
The company is exclusively advised by IMAP in Germany. The IMAPteam consists of Henning Graw (Partner), Simon Borst (Analyst) and Atanas Petkov (Analyst).