HTP Investment, a Dutch investment company acquires the insolvent automotive supplier Geiger Technologies. At its two sites in Germany and one in Poland Geiger Technologies manufactures products for the storage and transmission of liquids and gases as well as fuel and cooling components by means of injection moulding and blow moulding technologies. Prior to its insolvency the company had more than 700 employees and generated a turn-over of in excess of EUR 100 Mio.

Dr. Martin Prager, the insolvency administrator, states that take-over provides the company the opportunity to regain its market position. HTP is an experienced Investor, specialized in supporting enterprises in challenging situations. With this acquisition, HTP continues to acquire in the European automotive industry. Wim de Pundert’s, co-founder and owner of HTP Investments states: “Geiger Technologies has strong potential to regain a profitable position in a very competitive market. The company produces technologically advanced products and entertains long-standing and resilient relationships with the major automotive manufacturers. Geiger’s main customers, being engaged in long-term contracts with the company, take an active interest in supporting Geiger which, as a supplier, is vital for many premium manufacturers.

Along with the continuation of the sites in Tambach-Dietharz and Murnau an employment guarantee was given for 410 employees, which equals approximately three-quarter of the initial workforce. The location Sosnowiec (Poland) will be retained unchanged. “After comprehensively analysing the situation at Geiger, we feel confident to set the course for a successful future of the company in collaboration with the employee representatives. Based on its know-how and long standing tradition in the relevant markets, Geiger will take a leading role. With its experience in automotive, HTP is the ideal partner to identify and utilize future growth potential”, comments Wolfgang Speck, new CEO at Geiger technologies.

The challenging market development in the automotive supply industry called for a sustainable, economic solution for all parties involved. Corporate Finance Partners structured a dynamic sell-side process and identified HTP Investments at an early stage as an appropriate investor with strong restructuring and industry know-how as well as adequate financial means to invest in such situations. “CFP is specialized in advising transactions and companies in special situations, e.g. insolvencies. Through dedicated, hands-on presence on site, the structuring and marketing of economically sensitive exit strategies top lead a company out of insolvency as well as swift identification and approach of potential investors, we add considerable value to the asset sale out of insolvency (so called “übertragende Sanierung”). All participants were highly dedicated to get the deal done in this complex transaction” commented Daniel Schenk, Managing Director of Corporate Finance Partners’ Restructuring Unit.

Corporate Finance Partners acted as exclusive financial adviser to the insolvency Administrator Dr. Martin Prager, Pluta.