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CMS advises Salvia Group on acquisition of core business of Rehms Building Technology

12/10/2020

Leipzig – The Salvia Group has acquired the business operations of Rehms Building Technology GmbH, J. Rehms GmbH and consultancy TePmA GmbH as well as the shares in Rehms Service GmbH, representing the core business of insolvent firm Rehms Building Technology. In doing so, Salvia is strengthening its regional presence in North Rhine-Westphalia. The Salvia Group can now cover the entire building services lifecycle. The company also intends to acquire the stake in Essen-based DL Technik GmbH in the near future. The acquisition will safeguard around 550 jobs. Details of the transaction were not disclosed.

A CMS team headed by lead partner Dr Jochen Lux advised the Salvia Group on all legal aspects of the transaction, starting with the bidding process conducted by the seller and subsequently in the bilateral negotiations with the Rehms Group’s self-administration team. CMS regularly advises on distressed M&A, drawing on its expertise in M&A, restructuring and insolvency. “We felt very well supported throughout the entire transaction. CMS not only provided us with legal advice, but also managed and organised the entire acquisition process reliably, efficiently and with a strong focus on the essentials,” commented Dirk Jannausch, managing director of Salvia Group GmbH, speaking after the conclusion of the purchase agreements. “CMS has advised us on several acquisitions and restructurings in the past. It was thus natural for us to call on the expertise of CMS again when acquiring the core business of Rehms Building Technology,” said owner and company founder Filippo Salvia.

The Salvia Group is an independent family-run SME. As a professional electrical engineering partner for high-voltage and low-voltage systems, the Group operates successfully in the project management, high and low-voltage installations, industrial electrics, maintenance and service markets. The Group has a total of 800 employees at 16 locations throughout Germany. According to its own financial data, it generated sales of around EUR 160 million last year.

The Rehms Group is positioned as a full-service provider of technical building services. As at 1 July 2020, the Rehms Group employed a total of around 840 people according to its own figures. The most recent data shows that the workforce generated sales of almost EUR 150 million across the entire group. At the beginning of July 2020, the company’s management filed applications to open insolvency proceedings under self-administration for TePmA GmbH (consultancy firm, approx. 80 employees), J. Rehms GmbH (Borken, 350 employees) and for HSV Kälte-Klima Technik GmbH along with its subsidiaries HSV Wartungs GmbH, SHG GmbH and SRP GmbH (Baesweiler, a total of 100 employees). The proceedings were duly opened on 1 October 2020 and lawyer Stephan Karl Michels from Michels Insolvenzverwaltungen was appointed as the creditors’ trustee. The Rehms Group has been advised by law firm GÖRG since filing for insolvency.

CMS Germany

Dr Jochen Lux, Lead Partner
Peter Ollesch, Senior Associate
Benedikt Pittrof, Associate
Stefanie Pech, Associate, all Corporate/M&A
Niklas Lütcke, Partner, Restructuring and Insolvency
Axel Dippmann, Partner
Alexander Schmitt, Counsel, both Financing
Dr Anja Schöder, Counsel
Sven Groschischka, Associate, both Labor, Employment & Pensions
Stefan Schreiber, Senior Associate, IP/IT
Jesko Nobiling, Partner, Tax
Dr Rolf Hempel, Partner, Merger Control

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