As part of MAAS Group's insolvency proceedings, the building materials trade with its ten sites has been sold to MAAS Bauzentrum GmbH: This acquiring company consists of a group of strategic investors and the Maas family, which was able to prevail among five prospective buyers in a bidding process.
The purchase agreement was signed on January 29, and the transfer of the entire business operations with around 130 employees including the previous management is scheduled for May of this year. The parties have agreed not to disclose the purchase price.
At the end of August 2017, the MAAS Group from Ilshofen-Eckartshausen (Baden-Württemberg) filed for insolvency proceedings with the Heilbronn District Court. This also affected the profitable building materials trade MAAS Baustoffe, which generates an annual sales volume of around EUR 35 million. The restructuring process was accompanied by the consulting firm Buchalik Brömmekamp, Michael Pluta, Managing Director of PLUTA Rechtsanwalts GmbH, acted as trustee.
Following the opening of the insolvency proceedings in November, a transparent process for approaching investors was launched.
MAAS Group is exclusively advised by IMAP Germany. The IMAP team consists of 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’.