Colcrete von Essen rescued by investor entry after reorganisation in self-administration

Following the ­entry of ­an ­investor, the ­future of Colcrete von Essen GmbH & Co. KG (CvE) is ­secure. Within the ­framework of ­a ­reorganisation in ­self-administration, ­all ­jobs at the ­hydraulic engineering specialist ­for ­coastal protection ­and harbours ­could ­be ­preserved.

­Justus von Buchwaldt and Steffen ­Schneider from the law firm BBL ­support the ­management as general representatives ­together with ­their team around Rouven ­Quick and ­Georg Hüllen­. ­Dr. ­Hendrik Heerma from the law ­firm FRH ­acted as ­administrator. The ­comes team ­was ­exclusively commissioned ­with the ­ongoing ­business management ­support ­and the M&A process.

Hamed Omumi and Peter Böttger ­successfully ­supported ­the ­self-administration process in overcoming the ­challenging ­framework conditions and ­were ­responsible, ­among other things, for the ­ongoing ­earnings and ­liquidity planning. In ­parallel, Michael Rabe ­led the ­structuring ­and implementation of the ­successful ­investor process.

­”All ­those involved ­have ­pulled together to ­bring about ­this ­restructuring in ­the middle of the ­pandemic­. With the confirmation of the plan, the ­conditions are ­now ­in place for the ­insolvency proceedings to be ­lifted in the ­near future,­” ­explains ­Chief Representative ­Steffen ­Schneider.

Heerma ­explains ­why CvE ­will be successful­ again in the ­future despite the ­Corona pandemic­: “It was not easy to ­find­ ­­a good ­solution for all ­parties in ­this ­difficult ­economic ­situation. I am very pleased with the ­positive ­outcome for CvE and the ­workforce­. CvE has ­managed to ­reposition ­itself for the ­future ­thanks to its ­healthy core and ­innovative market positioning.­”

The ­positive ­course of ­the­ ­restructuring ­of Colcrete von ­Essen ­clearly­ shows the ­possibilities of ­a restructuring in ­self-administration­. In ­this case, ­the ­company­ had ­very good ­chances of ­completing the ­restructuring ­positively right ­from the ­start ­due to its ­focus on ­recognised ­sustainable ­solutions and ­specialist know-how­.