The fast-track M&A process for insolvent Emkon Systemtechnik, Projektmanagement GmbH, based in Kirchlinteln, Germany was successfully completed. Insolvency administrator Dr. Christian Willmer of law firm Willmer Köster announced that the special machinery manufacturer will be taken over by Optima, a specialist in packaging technologies with headquarters in Schwäbisch Hall.

The purchase agreement effective 1 August 2020 was already signed after the insolvency proceedings had been opened on the same day. The agreement stipulates the takeover of 47 employees and managing director Andreas Dittrich allowing to retain more than half of the staff at Emkon. For the remaining 41 employees, a transfer company will be set up with a duration until February 2021 to facilitate the transition to new employment. The parties have agreed not to disclose the purchase price and the financial details of the transaction. During the M&A process, the team of the insolvency administrator was supported by Jonas Eckhardt and his team of advisory firm FalkenSteg.

Due to a significant loss of orders during the COVID-19 crisis and the associated sales shortfall, Emkon filed for preliminary insolvency in June 2020. The (preliminary) insolvency administrator Dr. Christian Willmer and his team around lawyer Dr. Hans-Joachim Berner pushed ahead with a structured investor process, which has been successfully completed with the sale to Optima after only one and a half months.

“The continuation of business operations at Emkon was very demanding. Due to the Corona framework conditions, many customers have recently been very reluctant to place their highly complex engineering contracts. However, the time of uncertainty is over now. With the takeover by Optima, stable prospects are secured for Emkon. The company is in good hands as both firms complement each other strategically in an almost ideal way. With the takeover we were able to secure half of the jobs at Emkon. For the remaining employees who will not transfer to Optima, we will set up a transfer company with a long-term contract in order to support them as much as possible in their transition to new employment. We would like to thank the entire Emkon team for their impressive commitment during a difficult time and wish them all the best for the new beginning”, explains insolvency administrator Dr. Christian Willmer.

Mr. Hans Bühler, managing partner of Optima group, is happy about the growth of the company: “Emkon’s technologies and know-how are an ideal addition to our product portfolio. Emkon manufactures machine solutions for weighing and packaging fine-cut tobacco. Optima has already successfully implemented projects for this market segment. With the integration and the associated synergy effects, Optima strengthens its market position for turnkey solutions.”

General representative of the Optima Consumer Division, Joachim Dittrich, is sure about the prospects: “Emkon has a similar DNA to Optima. As a technology driver and innovation company, both companies are ideally equipped for demanding, customer-specific projects. We are looking forward to future joint projects and are happy to welcome a new member to our group.”

Insolvency administration
WILLMERKÖSTER Rechtsanwälte
Dr. Christian Willmer
Dr. Hans-Joachim Berner

M&A adviser
FalkenSteg Corporate Finance
Jonas Eckhardt (Partner)
Enis Lütkenhöner (Director)
Martin Bjelanonic (Associate)