Automotive Supplier Heinrich Huhn sold to Berylls Equity Partners

White & Case partner Dr. Jan-Philipp Hoos in his function as insolvency administrator has succeeded in selling the business operations of Heinrich Huhn GmbH + Co. KG in Drolshagen, Germany, and the shares of its Slovakian subsidiary HUHN PressTech spol. s r.o. (together Heinrich Huhn Group) to the investor Berylls Equity Partners GmbH (Berylls). The purchase agreement was signed on June 16, 2021, in Düsseldorf. Falkensteg GmbH from Frankfurt (Johannes von Neumann-Cosel, Georg Nikolaus von Verschuer, Lukas Hees and Hakan Yildirim) was mandated with the execution of the structured M&A process.

The Heinrich Huhn Group employs around 500 people at its sites in Drolshagen, Germany, and at the site of its subsidiary in Vráble, Slovakia, and supplies customers in the automotive industry globally with metal-formed parts for brake boosters, steering columns, gearboxes, bearings, and other assemblies.

In November 2020, Heinrich Huhn GmbH + Co. KG had submitted an insolvency application to the responsible local court in Siegen. By resolution of November 24, 2020, Dr. Jan-Philipp Hoos was appointed as provisional insolvency administrator. On February 1, 2021, the insolvency proceedings were opened, and business operations continued in full. As part of a structured bidding process, Berylls has now prevailed over other interested parties.

“Following work-intensive months, I am very pleased to have found a strong and experienced investor,“ said Mr. Hoos. “I know Heinrich Huhn is in good hands. I am very happy about this success especially for the employees who have been fighting hard for the company over the past years.” Mr. André Arenz, first authorized representative of IG Metall Olpe, added: “The last few months have been very challenging for the employees. I am very relieved and grateful that Mr. Hoos and his team have shown such commitment and found an investor, which means that the tradition-rich company and the majority of jobs can be permanently preserved.”

Berylls is an entrepreneurial investment company that acquires medium-sized companies in the mobility industry with perspective in special situations, improves their operations and realigns them strategically for the long term. Berylls is backed by Berylls Strategy Advisors GmbH and its active management team, as well as other well-known anchor and co-investors (institutional investors, family offices and entrepreneurs).

With the acquisition of the Heinrich Huhn Group, Berylls is pursuing a long-term approach focused on stable growth. “We are convinced that we will be able to successfully develop the Heinrich Huhn Group going forward based on our existing competencies in the areas of product and production technology together with our market know-how, customer access and proven restructuring expertise,” said the operational managing directors of Berylls, Dr. Jan Dannenberg, Hans-Jürgen Titz and Andreas Rauh.

The White & Case team at Heinrich Huhn Group includes partners Dr. Jan-Philipp Hoos (insolvency law, Düsseldorf, lead), Dr. Bero-Alexander Lau (insolvency law, Düsseldorf) and

Hendrik Röger (employment law, Hamburg), Associates Kristin Brüggert (employment law, Hamburg) and Lisa Reichstein (insolvency law, Düsseldorf) as well as Sandra Syré (accountant) and Maria Pugacev (commercial law).

In addition, Mr. Hoos was supported by the consultancy hahn,consultants gmbh from Wuppertal (Sebastian Sehn and Thilo Bendel), SY.CON GmbH from Wuppertal (Mathias Mangliers and Cuma Lemi Ulucay) as well as lawyer Dr. Kaan Güzel, Düsseldorf. Mr. Hoos was advised on the sale by Anchor Rechtsanwaltsgesellschaft mbH (Anchor). The team at Anchor includes partner Dr. Christof Schiller (insolvency law/M&A, Mannheim, lead) and Associate Johannes Chrocziel (insolvency law/M&A, Munich).