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Press Release:

Saxenhammer advises the sale of Kunze Group to PWK Automotive Group

Saxenhammer & Co. Corporate Finance GmbH ("Saxenhammer") acted as the investment banker for the sale of Kunze Group (Gebrüder Kunze GmbH and Ibex Automotive GmbH) to PWK Automotive Group, Krefeld.

Kunze Group produces safety-relevant parts for the automotive industry, which are used in brake, chassis and climate systems. The insolvency administrators Rüdiger Wienberg (Gebrüder Kunze GmbH) and Kai Dellit (Ibex Automotive GmbH), partner at hww hermann wienberg Wilhelm law firm, have successfully continued the business of Kunze Group, based in Gelenau, Zittau and Schönbrunn, during a nearly one-year long lasting investor process. With this transaction, all of the 400 employees of Kunze Group will keep their job. The parties agreed not to disclose the value of the transaction.

At the same time, US parent MacLean-Fogg Company sold its shares of PWK Automotive as part of a management buy-out to HANNOVER Finanz as a new equity investor and majority shareholder. Through the acquisition of Kunze Group, PWK Automotive Group with its traditional press plant at Krefeld, will evolve as a leading metal forging company in Germany. Both transactions still require the approval of antitrust authorities.

Other professionals who worked on the transaction include:
Thilo Zimmermann and Maximilian Bettermann of Linklaters, counsel to
Rüdiger Wienberg as insolvency administrator of Gebrüder Kunze GmbH,
and Kai Dellit as insolvency administrator of Ibex Automotive GmbH
Christian Atzler (lead),
Dr. Thomas Gilles,
Dr. Holger Ellers,
Christian Horstkotte,
Dr. Hagen Köckeritz,
Sonja Klein,
Dr. Holger Lutz,
Dr. Benjamin Koch,
Dr. Rebecka Ringnalda,
Dr. Johannes Weichbrodt and
Dr. Verena Böhm
of Baker McKenzie, counsel to Presswerk Krefeld GmbH & Co. KG

Saxenhammer & Co. Corporate Finance GmbH
is a leading boutique investment bank with over 15 years of experience focused on special situations in Germany and across continental Europe. Saxenhammer & Co. ranks amongst the top firms in this segment. Special situations are the transactions, which are characterized by complexity, speed and creativity. The objects in the transactions include companies, who look for growth opportunities, secession or external financing in crisis, under (preliminary) insolvency, or in neglected industries. The firm’s track record comprises the execution of over 140 successful transactions across all major industries with a success rate of over 90%. With an international reach through partner firms, Saxenhammer & Co. is engaged in cross-border transactions.

Kunze Group
has been divested to
PWK Automotive Group
CONTACTS
ON THIS DEAL
Matthias Grau
Partner
mgr@saxenhammer-co.com
Phone: +49 30 755 40 87-13

Erik Theilig
Partner
et@saxenhammer-co.com
Phone: +49 30 755 40 87-15
Saxenhammer & Co. Corporate Finance GmbH

Schumannstraße 18  |  10117 Berlin
T +49 30 755 40 87-0  |  F +49 30 755 40 87-19
info@saxenhammer-co.com  |  www.saxenhammer-co.com
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