Successful rescue of Spilker GmbH

With effect from 1 February 2024, the operational business of Spilker GmbH was taken over by the family office Boels & Partners as part of a transferring reorganisation. This means that Spilker can continue to contribute its many years of expertise in its three core business areas – rotary tools, punching plates and mechanical engineering – and a large number of jobs will be retained.

“We are delighted to embark on this journey with Spilker,” said Yvonne Boels, Founder and Chairwoman of Boels & Partner. “Our strategic investment in Spilker reflects our commitment to positive change and creating value for all stakeholders involved. We look forward to leveraging our expertise to support Spilker’s growth and success in the years to come.”

Henrik Spilker supports the transaction: “This acquisition is an important step for the future of the company. We are confident that this partnership will open up new opportunities for growth and development and we look forward to working with such an experienced and committed team.”

The weak overall economic development and an unexpected decline in orders in the summer of 2023 meant that Spilker GmbH was no longer able to complete the previously initiated restructuring programme on its own. Faced with the threat of insolvency, the management had to file for insolvency under self-administration on 8 September 2023.

With the support of restructuring expert Michael Schütte from the law firm Eckert Rechtsanwälte Steuerberater Partnerschaftsgesellschaft mbB as general representative, the management team led by Henrik Spilker and Benjamin Lendeckel succeeded in stabilising the operating business in a very short space of time.

Michael Schütte: “Thanks to the excellent client relationships and the unrestricted support of the entire Spilker team, we were able to continue our day-to-day business without disruption throughout the entire period of the proceedings. My thanks and respect go to the Spilker team for this”.

An experienced team from WAYES assumed responsibility for operational commercial issues for the continuation of operations and restructuring in the self-administration proceedings and initiated an international investor process, which has now been successfully concluded.

Michael Rabe: “I am very satisfied that, despite the difficult economic situation and turbulent developments in the sales markets, we have succeeded in developing a viable and promising solution for Spilker GmbH together with the self-administration and insolvency administration teams.”

The court-appointed insolvency monitor and specialist lawyer for insolvency and restructuring law Stefan Meyer from the law firm PLUTA Rechtsanwalts GmbH, who accompanied and monitored the debtor-in-possession proceedings together with his colleague Christoph Chrobok and provided the best possible support for the restructuring processes, added: “I am very pleased and grateful for the continuation solution that was achieved with a great deal of effort on the part of all those involved. Not only has the best solution been achieved for the creditors, but jobs have also been saved. It was in particular the highly qualified and at the same time very motivated workforce that made this success possible in the first place.”