Norton Rose Fulbright advises EISSMANN Group Automotive on its sale out of insolvency

Global law firm Norton Rose Fulbright has advised Dr. Holger Leichtle (GÖRG), the insolvency administrator of the parent company EISSMANN Automotive Deutschland GmbH, on the sale of the respective German business operations and the shareholdings in foreign subsidiaries including Mexico, Slovakia, the Czech Republic, Hungary, and the United States to Axent Capital Partners AG.

EISSMANN Group Automotive is an internationally active German automotive supplier headquartered in Bad Urach. Founded in 1964, the company specializes in the development and production of components for vehicle interiors including high-quality leather trim, control modules, surface haptics, lighting, and electronic solutions. Until the filing for insolvency proceedings in February 2024, the group employed around 4,000 people worldwide and generated annual revenues of approximately €450 million.

Given the ongoing structural challenges in the automotive industry, commercial solutions for insolvent companies in the supplier sector are no longer a given. This transaction is therefore particularly noteworthy, as it demonstrates that viable and forward-looking outcomes can still be achieved even under difficult market conditions.

Lead partner Dr. Sylwia Bea-Pulverich (restructuring/insolvency, Frankfurt) commented:

"We are pleased to have found a solution together with all parties involved that ensures the continued existence of this long-standing company, which is of great importance to the German automotive industry. Our engagement in this complex M&A process reflects the high level of trust in our expertise and experience with transactions in the automotive sector."

The mandate was handled by a broadly positioned international NRF team led by Dr. Sylwia Bea-Pulverich (Restructuring/Insolvency Law, Frankfurt). Other core team members included Partner Karsten Kühnle (Corporate/M&A, Frankfurt), Senior Associate Anna-Maria Baorda and Associate Lorenz Scholtis (both Restructuring/Insolvency Law, Frankfurt), as well as Associate Felix Reiner (Corporate/M&A, Frankfurt). The core team was supported by additional partners Dr. Simon Weppner (Tax Law, Düsseldorf), Anne Fischer (Corporate/M&A, Düsseldorf), Dr. Bernhard Fiedler (Banking and Finance Law, Frankfurt), Dr. Tim Schaper (Antitrust Law, Hamburg), Dr. Holger Wolf (Real Estate Law, Frankfurt), Claudia Posluschny (Labor Law, Munich), Dr. Maren Stölting (Real Estate Law, Munich), counsels Dr. Britta Jilge (Real Estate Law, Munich), Daniel Arends (Restructuring/Insolvency Law, Hamburg), Karsten Alex (Corporate/M&A, Hamburg), Thorben Schläfer (Litigation, Frankfurt), senior associates Sarah Heufelder (Tax Law, Munich), Malte Meyer (Corporate/M&A, Hamburg), and Marvin Nimoh (Banking and Finance Law, Hamburg), as well as associate Philipp Fricke (Tax Law, Frankfurt).

On the international level, the team was supported by Partner Hong Sun (corporate/M&A, Shanghai), Partner Dante Trevedan (project finance, Mexico City), Senior Associate Shibin Zhao (corporate law, Shanghai), and Associates Javier Vazquez Mora (project finance, Mexico City) and David Hagen (corporate/M&A, Dallas).

Internally, the transaction at EISSMANN Group Automotive was managed by Dr. Frank Straile (Vice President Corporate Legal) in close cooperation with colleagues from GÖRG under the leadership of Dr. Daniel Schmitz, as well as with the M&A-team from PricewaterhouseCoopers (PwC) led by Philipp Gebhard. Legal advice in the respective Eastern European jurisdictions was provided by the law firm Wolf Theiss.

The buyer side was legally advised by lindenpartners, with lead partner Dr. Frank Eggers.