Insolvent German slaughtering-equipment specialist BANSS Schlacht- und Fördertechnik GmbH has been successfully rescued. The Biedenkopf-based business and all its remaining staff were acquired by JWE-Baumann GmbH, a strategic investor from Aalen, as part of a business asset sale on the effective date (1 January 2019). The parties have agreed to keep the purchase price confidential.
The company will begin its reboot by pivoting to providing services and manufacturing spare parts for slaughtering equipment. After this, BANSS will be free once again to start selling smaller-scale slaughtering equipment. The first steps of the realignment have already been implemented by insolvency administrator Silvio Höfer. “Keeping the service and replacement parts business trading after insolvency proceedings had commenced was an essential step towards rescuing the company. This allowed the profitable part of the firm to be saved, along with around 30 jobs in Biedenkopf”, Höfer explains.
Johannes von Neumann-Cosel, a partner at FalkenSteg, also sounded a positive note about the new owner. “BANSS has found a happy new home with JWE-Baumann,” Neumann-Cosel says. “The company will flourish once again under the leadership of the Weiss family, along with Thilo Weide and Harald Weide. We’re happy to have found such a proactive and results-driven investor.”
On account of BANSS’ then-impending inability to make due payments, the company had to file for insolvency in the form of debtor-in-possession management in April 2018. The M&A process was initiated under the direction of Jan Gross (Ebner Stolz), and Silvio Höfer from anchor Rechtsanwälte was appointed as preliminary administrator. In August 2018, the process was opened up to external administration, and Silvio Höfer, as insolvency administrator, subsequently worked together with Ebner Stolz and FalkenSteg to find a solution. “Due to the difficult market situation and the large amount of resources requiring pre-financing, it wasn’t possible to save the company’s entire manufacturing arm. It’s a great achievement that we were able to keep the service and spare-parts segments in business after the previously announced shutdown and that we were successfully able to find a buyer for them”, says Höfer.
anchor Rechtsanwälte Partnerschaftsgesellschaft mbB
Silvio Höfer (Insolvency Administrator, Partner)
Florian Harig (Counsel)
Eugen Werner (Associate)
About anchor Rechtsanwälte
anchor Rechtsanwälte is a partnership based on a law firm and management consultancy hybrid model. It is led by 15 partners and employs 120 staff at 11 locations in Augsburg, Braunschweig, Düsseldorf, Hanover, Hildesheim, Cologne, Mannheim, Munich, Weilheim, Stuttgart and Ulm. anchor specialises in insolvency administration and insolvency law advisory services. In the past, the firm has supported and successfully restructured a large number of major companies in insolvency situations.
Ebner Stolz Mönning Bachem Wirtschaftsprüfer Steuerberater Rechtsanwälte Partnerschaft mbB
Jan Gross (Partner)
Guido Glörfeld (Partner)
Lutz Maschlanka (Senior Associate)
Hannah Krings (Counsel)
Johannes von Neumann-Cosel (Partner)
Georg von Verschuer (Director)
Jürgen Weiss founded JWE-Baumann in Aalen in 1996, with the company initially trading in spare parts and used machinery. Two years later, it began to build its own scalding and dehairing machines. In 2005, the firm launched a takeover of Stuttgart-based meat-processing machinery manufacturer Oskar Baumann. JWE-Baumann systems are used in approximately sixty countries. The company is a global market leader, particularly in the highly technologically challenging field of goat dehairing.
Legal consultants to buyer
FINKENHOF Rechtsanwälte Partnerschaftsgesellschaft mbB
Dr. Maximilian von Mangoldt (Partner)
Carolin Brand (Associate)