Neschen reorganisation successfully concluded
Following the last year’s filing for insolvency byNeschen AG and its financial holding company Neschen Benelux B.V, the Munich-based industrialholding company, Blue Cap AG, has acquired the significant assets and operating business of Neschen AG, Bückeburg, as well as its subsidiaries that trade under the Filmolux brand in Germany, Italy, Benelux, France and Austria, through its subsidiary Blue Cap 07 GmbH.
The transfer of assets is scheduled to take place on July 1st, 2016, and, although the agreement is still subject to the release of collateral, it is anticipated that this will soon be completed.
Commenting on the acquisition,Henrik Felbier, CEO of the Hamburg-based company Felbier Mail GmbH, which had previously performed an operational reorganisation ofNeschenbefore conducting the insolvency under its own administration. said: “We are delighted to have gained a long-term investor such asBlue Cap that will provide the growth capital that the Neschen needs. The successful operational reorganisation was the essential prior to selling the company to an attractive investor after emerging from its insolvency clear of debt and I am pleased that we have achieved this.”
Neschen represents the twelfth investment in the industrial portfolio of Munich-based Blue Cap AG, which already has proven expertise in the adhesive systems area.
Explaining his company’s latest acquisition, Dr. Hannspeter Schubert, Management Board member at Blue Cap, said: “With the acquisition of Neschen we have succeeded in further expanding the adhesives area within our Group. Along with positive effects for our existing companies, it also enables us to position ourselves in new and growth-relevant adhesives processing business areas.”
For further information visit: www. neschen.de/neschen-ag/home/