Solvesta AG, a German market listed investment holding, has acquired the business operations of the insolvent Helmut Lingemann GmbH & Co. KG (Helima Group).
Helima produces with some 115 employees window spreaders in Wuppertal and has achieved an outstanding reputation since years.
Solvesta is a medium-sized investment holding with particular expertise in the field of restructuring insolvent enterprises or businesses close to insolvency proceedings.
TRACC Legal, with Dr Thomas Lotz in charge, acted as legal adviser for Solvesta (transaction process, deal structuring). This innovative transaction included a capital increase by way of contribution in kind with a transfer of assets still executed by the Seller and a subsequent share deal to Solvesta. Furthermore all banks currently financing Helima supported the transaction by increasing their commitment significantly.
The insolvency administrator of Helima, Dr Jörg Bornheimer, GÖRG, was advised by Dr Mike Westkamp, attorney at GÖRG as well.