Mosbach/Ahorn, 6 September 2018 – Attorney Marcus Winkler from BBL, a law firm operating throughout Germany, has sold the assets of the insolvent IHP Service GmbH, a provider of industrial services, to ID Tauberfranken GmbH in Boxberg as part of an asset deal. With this transaction he secures all existing 99 jobs at the site. In addition, a large part of the fixed and current assets will be transferred to the buyer.
The relevant contract was signed by insolvency administrator Marcus Winkler and Rüdiger Volk, Managing Director of ID Tauberfranken GmbH. Both parties agreed not to disclose information on the purchasing price and the business conditions. The transfer of business operations was concluded on 1 September 2018 and is still subject to approval by the board.
Restructuring expert Mr. Winkler and his team have been able to continue business operations uninterrupted since IHP Service filed for insolvency. Throughout this period they were able to stabilize the company. He states: “I am pleased that in such a short period of time we have found an investor for IHP Service who can offer the employees prospects for the future.”
According to the buyer, the plan is to concentrate on the core business of the company, but also to continue to serve secondary business areas such as commercial cleaning. Rüdiger Volk, Managing Director of ID Tauberfranken GmbH, which belongs to Maschinenring Tauberfranken e.V. states: “Naturally we would help our affiliate company. We are pleased to be able to ensure a structured environment at IHP Service through our investment.”
At the end of June 2018, IHP Service GmbH filed an application for the opening of insolvency proceedings with the competent local court in Mosbach. The proceedings were opened on 1 September 2018. The court appointed attorney Marcus Winkler as insolvency administrator. He had previously worked at the company as the preliminary insolvency administrator.
About IHP Service GmbH:
IHP Service GmbH has been offering tailor-made services such as temporary employment, factory/plant security and cleaning services in the industrial, trade and private sectors since 2009. In addition, the company is also active in warehousing, production and container management services. In addition to internationally active industrial, energy and trading companies, its customers include a large number of small and medium-sized companies from the Bavarian and Baden-Württemberg regions as well as German states and municipalities. The company employs 102 people and 45 temporary workers. IHP Service GmbH is a subsidiary of Maschinenring Tauber-Franken e.V., whose activities are in no way affected by the insolvency proceedings.
Further information: www.ihp-dienstleistungen.de
About Attorney Marcus Winkler:
Marcus Winkler, Partner at BBL, has worked for more than 18 years as a lawyer in the field of restructuring and reorganization and has been regularly appointed as insolvency administrator, administrator and trustee since 2002. His specialization lies in the continuation and the turnaround by means of insolvency plans and/or transferring restructuring of companies of different industries and of all sizes. In addition, Marcus Winkler advises companies and creditors on all questions of insolvency law, in particular in the area of restructuring through a debtor-in-possession proceeding.
BBL is one of the leading law firms with a sole focus on reorganisation, restructuring and insolvency. The firm has extensive experience in complex restructuring projects both within and outside insolvency proceedings. More than 50 lawyers work at BBL nationwide in Germany and also in London.
Further information: www.bbl-law.de
Attorney Marcus Winkler
Phone: +49 178 8550496