Stuttgart – Insolvency administrator Tobias Wahl and his team from Anchor Rechtsanwälte and Anchor Management have succeeded in finding a buyer for the Gehring engineering group. The Nagel Group will become the new owner of Gehring later this year. Gehring was forced to file for insolvency in August of this year. Stuttgart’s insolvency court appointed Anchor partner Tobias Wahl as insolvency administrator. The Nagel Group now intends to acquire Gehring’s business operations in a rescue by way of transfer of assets. The specific conditions will be negotiated with the employee representatives in the coming weeks. Gehring will remain an independent unit and the brand will be retained. The deal sees the two engineering companies pooling their expertise in honing technology. The details of the transaction and subsequent steps were not disclosed.
A CMS team headed by lead partner Dr Alexandra Schluck-Amend advised the Gehring Group’s insolvency administrator on all legal aspects of selling the business operations and shareholdings. The team is also advising on the restructuring process.
The Gehring Group, based in Ostfildern near Stuttgart, is a provider of high-efficiency powertrains, both conventional and electric. Gehring also develops honing technology and provides the automotive industry with laser roughening, coating and honing processes, thereby delivering solutions to meet the challenges currently facing the internal combustion engine. Production technology for e-mobility rounds out the group’s portfolio. Gehring has an international presence with subsidiaries in France, Italy, India, the US and other countries.
The Nagel Group is headquartered in Nürtingen (Baden-Württemberg). It develops and produces machinery and tools for honing, superfinishing, deep hole drilling and deburring technologies. The group’s portfolio also includes the development of complete machining systems and a wide range of services. Nagel has a global sales network with a presence on four continents, including plants in Germany, the UK, Brazil, the US and India. According to the company’s own figures, Nagel has around 1,350 employees worldwide.
Dr Alexandra Schluck-Amend, Lead Partner
Dr Veronika Hefner, Associate
Franziska Fuchs, Associate, all Restructuring & Insolvency
Dr Kai Wallisch, Counsel
Dr Christian Zielonka, Counsel
Susanne Waldhans, Senior Associate
Birgit Schlemmer, Associate, all Corporate/M&A
Dr Stefan Voß, Partner
Lukas Potstada, Senior Associate, both Real Estate & Public
Dr Martin Mohr, Counsel, Tax
Dr Boris Alles, Counsel, Labor, Employment & Pensions
Tobias Wahl, Partner, Insolvency Administrator
Michael Verken, Partner
Dr Alexander Zarzitzky, Senior Associate
Dr Philipp Ziegler, Associate
Zeynep Zeki, Associate, all Business Continuity
Markus Fause, Partner
Alexander Reus, Partner
Johannes Chrocziel, Associate, all M&A
Silvio Höfer, Partner
Larissa Bechthold, all Employment
Ansgar Lienert (Ongoing Operation)