KÖTTERMANN finds an investor
The investor process of the KÖTTERMANN® Group, as specialist for laboratory equipment “Made in Germany”, has been successfully completed. The insolvency administrator Dr. Christian Willmer from the law firm WILLMERKÖSTER and the BLOCK® Group have agreed on the takeover. A corresponding purchase agreement was signed. This implies the continued employment of 120 employees at the German headquarters. Financial details of the transaction were not disclosed. In collaboration with workers´ council and unions a transfer company was set up. The employees without continued employment for KÖTTERMANN were transferred to an interim employment company.
On August 21, 2018 KÖTTERMANN applied for a reorganization procedure in self-administration. The M&A process started in September 2018. The insolvency proceedings were officially opened on December 1, 2018.
The BLOCK® Group was founded 1991 in the Czech Republic and today is an international successful group of companies with more than 400 employees in seven countries. The group focuses on turn-key delivery of clean room facilities of the highest standard and addresses customers in Pharmaceutics, Biotechnology, Medical devices, Healthcare, Microelectronics and R&D. In house activities of the Group include design, engineering, delivery, validation and service of clean rooms.
With this acquisition BLOCK® Group extends its product range of clean rooms, isolators, process and healthcare technologies with fume cupboards, laboratory furniture, service supply systems and safety storage cabinets made from steel.
Jan Mynář, CEO BLOCK® Group: “For BLOCK® Group, acquisition of KÖTTERMANN is a perfect strategic fit. With its strong brand and great product portfolio, and with addition of our range of technology to the lineup, KÖTTERMANN can become the product hub of the whole Group. Combination of high-quality “Made in Germany” and expertise from the highest level of clean rooms can give customers the best products on the market.”
Thanks to the new partnership, KÖTTERMANN´s business, which successfully continued during the reorganization phase, now gains new momentum.
Albrecht Wiener, Managing Director of KÖTTERMANN® Group: „With the BLOCK® Group as new strong strategic partner at our side we are able to intensify existing customer relationships as well as to open up new business fields through synergy effects. We are gaining momentum and look forward to our future cooperation.”
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