IMAP Germany advised insolvent MAAS Group on its sale of BEMO Systems Engineering

IMAP advised MAAS Group as part of their insolvency proceedings on the sale of its subsidiary BEMO Systems Engineering GmbH (BEMO). The buyer is a group of investors led by the current managing director Hans Wiedemann taking over the entire business activities including the 31 employees located in Ilshofen near Stuttgart. The MBO was signed on December 21, 2017 and approved by the creditors on January 17, 2018.

BEMO is a specialist in the planning and manufacturing of systems and roof superstructures made of various metals. Its products are directly sold to architecture and construction engineering firms as well as to professional craftsmen. One of the renowned projects in Germany is the facade structure of the largest German office complex The Squaire located at the Frankfurt Airport. In 2016, BEMO generated revenues of approx. EUR 19m.

Insolvency proceedings were opened for MAAS Holding GmbH, MAAS Profile GmbH and BEMO Systems Engineering GmbH on November 01, 2017, respectively. Michael Pluta of PLUTA Rechtsanwälte accompanies the process as insolvency administrator. For MAAS Baustoffe GmbH, debtor-in-possession management was opened on November 01, 2017. Dirk Eichelbaum of Buchalik Brömmekamp accompanies the process as restructuring officer. The district court of Heilbronn appointed Michael Pluta of PLUTA Rechtsanwälte as trustee.

MAAS Group is exclusively advised by IMAP Germany. The IMAP team in Germany consisted of Henning Graw (Partner), Mario Flory (Senior Project Manager), and Simon Borst (Associate).