The business operations of MAAS Profile GmbH have been sold to the newly founded MAAS Profilzentrum GmbH as part of the insolvency proceedings.
Former Managing Director Wolfgang Maas will take over the traditional business as part of a restructuring on September 15, 2018, and those responsible signed the purchase agreement subject to the approval of the creditors' committee. 110 jobs will be retained. The parties have agreed not to disclose the purchase price.
MAAS Profile GmbH produces high-quality metal profiles for roofs and facades, which are sold through specialist dealers, hall builders and craftsmen. "We are very pleased that we have now also achieved a sustainable succession solution for MAAS Profile. The employees were highly motivated during the process and have worked together with us. The work of the past weeks has paid off," says Michael Pluta.
Financial advice for all MAAS transactions
The MAAS Group from Ilshofen-Eckartshausen (Baden-Württemberg) filed for insolvency with its three operating companies at the end of August 2017. In addition to the sale of MAAS Profile GmbH, BEMO Systems Engineering GmbH was sold in January 2018 as part of a management buyout. MAAS Baustoffe GmbH with its ten locations was sold to an acquiring company of strategic investors and the Maas family in April 2018.
The MAAS Group was advised in all three transactions exclusively by IMAP Germany with the team Henning Graw (Partner), Mario Flory (Senior Project Manager) and Simon Borst (Associate).
Over 90 delegates from IMAP member firms representing 32 countries congregated in Miami on October 25th - 27th for IMAP’s 2018 Fall conference. The conference was hosted by Falls River Group, IMAP’s partner firm in Florida, and was set around the theme of ‘Disruptive Innovation’.