Due to the takeover by Futurus Holding GmbH, a subsidiary of Regensburg/ Germany based Buchbinder Group, insolvent “Fuhrparkprofis” is able to continue operations under the brand “Die Fuhrparkprofis”. The company which rents and sells commercial vehicles is now backed by an organization with more than 100 offices in Germany and more than 1,000 full time employees.

Jobst & Junghanns GmbH and its subsidiary Jobst & Junghanns Trailer GmbH, the companies behind "Fuhrparkprofis", filed for insolvency at local court Nürnberg - bankruptcy court - in June 2009.

In the following weeks, the court appointed preliminary insolvency administrator Dr. Carlos Mack, Partner at White&Case, who continued business operations together with the management team. In particular, an agreement of continuation with the majority of leasing companies made it possible for Dr. Carlos Mack and the advising M&A boutique Corporate Finance Partners Midcap GmbH (Corporate Finance Partners), to start negotiations with potential investors, which finally led to a successful transaction.

"The concept of Futurus Holding GmbH convinced me. The persons in charge know the utility vehicle rental market very well and have my full confidence to turn-around business into profitability again," commented the insolvency administrator.

The situation required a very swift but sustainable investor solution. Early in the process, Corporate Finance Partners has indentified Buchbinder as a solid strategic partner with adequate financial resources and strategic rationale to swiftly complete a transaction and take over the majority of employees. Buchbinder has distinguished itself from other competing bidders. “Enabling such swift and sustainable investor solutions via a so called “bertragende Sanierung” is our specialty and adds value to the insolvency administrator as well as all constituencies in the insolvency proceeding alike” commented Daniel Schenk, Managing Director and Partner of Corporate Finance Partners.

Affected by the insolvency are Jobst & Junghanns GmbH, Jobst & Junghanns Trailer GmbH, TRS Truck Rental Service GmbH and TTT Truck Trailer & Trade GmbH.

Corporate Finance Partners acted as financial adviser to the insolvency administrator Dr. Carlos Mack, White&Case.