Following the successful stabilization of business processes, the Stuttgart District Court opened insolvency proceedings against the German companies of the Gehring Group today, Thursday, October 1. The specialist for honing technology and electromobility had filed for insolvency in August. Since 05.08. the preconditions for the reorganization were created within the framework of preliminary insolvency proceedings. Attorney Tobias Wahl, anchor Rechtsanwälte, was appointed as insolvency administrator.
“In constructive cooperation with Gehring’s key partners, we were able to create the conditions for the continuation of operations. The task now is to further stabilize the business and complete the realignment with a strong investor,” Wahl said. Dr. Sebastian Schöning, Group CEO, adds: “We are equipped to meet the demands of changing markets with our portfolio of cutting-edge technologies. Through this and thanks to the dedication of our workforce and great support from our partners, I am confident that we can positively shape the future of the company.”
Gehring’s portfolio includes machines and systems for precision machining using honing and laser technology as well as production technology for the manufacture of electric motors for electric, hybrid or even fuel cell drives. While the markets in the automotive industry are burdened by the transformation, Gehring addresses future topics such as emission reduction and electromobility. The current insolvency proceedings also showed that demand for these solutions is high and that the industry relies on Gehring as a technology partner. Customers confirmed this by placing orders in the after-sales, spare parts and tools business. New project inquiries also underpin expectations of an incipient restrained recovery of the markets.
The sale process provides for the creation of a new ownership structure. After the takeover and completion of the process, the future development of the Group is to be driven forward sustainably through the involvement of strong investors. Clairfield International, an international M&A consultancy specializing in medium-sized corporate transactions, provides support in the search for investors. Advanced discussions are currently being held with interested parties. It is planned to complete the acquisition in the current year.
ABOUT THE GEHRING GROUP
The Gehring Group offers innovative production solutions for highly efficient conventional and electrified powertrains. In the field of precision machining, the company has been shaping the development of honing technology for over 90 years and provides the automotive industry with answers to the current challenges surrounding the combustion engine with its laser roughening, coating and honing processes. The production technology for e-mobility expands the Group’s portfolio and sets new standards in the flexible series production of electric motors for battery-electric, hybrid and fuel cell vehicles.
About Anchor
Anchor is a hybrid of law firm and management consulting firm. Throughout Germany, the firm is one of the largest restructuring units with 13 offices and over 130 employees in the areas of insolvency and restructuring. Anchor has assisted and reorganized numerous major companies in bankruptcy. Anchor’s attorneys are regularly proposed and appointed as insolvency administrators, administrators of assets or as reorganization directors in insolvency, self-administration and protective shield proceedings. In consulting mandates, anchor combines legal expertise with business know-how.
About Clairfield International
Clairfield International is one of the world’s leading M&A consultancies specializing in mid-market corporate transactions. This year, the firm has already successfully sold dental distributor Pluradent and the locomotive division of Vossloh, among others. In addition to numerous projects in the mechanical engineering segment, Clairfield serves the automotive, commercial vehicles, agricultural technology, construction and building materials segments in the industrial sector.
Press contact
Joachim Jäckl
Gehringstraße 28
73760 Ostfildern
