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After the Düsseldorf District Court approved the application for insolvency of the real estate project developer INTERBODEN GmbH & Co. KG (“INTERBODEN”) under self-administration on 07.02.2024, the insolvency proceedings of several INTERBODEN companies were opened on 01.05.2024.
Lawyer and tax law specialist Dr. Uwe Paul from PLUTA Rechtsanwalts GmbH (Düsseldorf) was appointed as trustee of INTERBODEN and insolvency administrator of the intermediate holding companies INTERBODEN Innovative Lebenswelten GmbH & Co. KG. The management of INTERBODEN GmbH & Co. KG was advised by the law firm ATN in Ratingen led by lawyer Dr. Marc d'Avoine and lawyer Paul Michels. As a first step, the self-administration team and lawyer Dr. Paul succeeded in stabilizing and continuing business operations. In parallel, an M&A process was initiated, which was managed by novaerion GmbH from Düsseldorf (“novaerion”).
Their search for suitable investors focused on companies from the construction industry that also specialize in project development and construction and for which the INTERBODEN Group's highly qualified employees and existing projects should be of particular interest. Despite the demanding market environment (development in the construction sector, interest rate development, slump in demand), novaerion was able to identify the British financial investor Arrow Global as a buyer, who took over significant parts of the INTERBODEN Group, including all employees, as of 01.06.2024. The buyer was advised by Bernhard H. Hansen, who now manages the company as interim CEO. “Joining the Arrow network will enable us to continue to grow by combining our knowledge and expertise with an institutional investment approach during a challenging time on the German real estate market,” says the CFO of INTERBODEN GmbH & Co. KG Dr. René Maler.
Dr. Uwe Paul says: “We are very pleased that, in Arrow Global, a rapidly expanding company has been found to acquire INTERBODEN GmbH & Co. KG. This ensures the future of employees and allows customers and suppliers to look ahead with confidence. ”
Dr. André Schröer, novaerion GmbH, adds: “In the current construction environment, it is very demanding to find good transaction solutions for companies — not just in the restructuring environment. We are all the more pleased that we were able to contribute to a good solution for everyone involved. We would like to thank the management, property and insolvency administration as well as the ATN law firm for the excellent cooperation and wish the company and the acquirer every success in the future. ”
About novaerion:
novaerion GmbH, based in Düsseldorf, acts as a transformation and transaction consultancy. The areas of advice range from strategic reorganizations and earnings crises to support as part of comprehensive restructuring procedures as a CRO and as M&A support in special situations.
Contact person for potential buyers:
Patricia Schalke
Business Operations
novaerion GmbH
Am Wehrhahn 100
40211 Dusseldorf
Telephone: +49 21176979986
email: info@novaerion.com
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