act legal w Polsce doradza Adventum przy nabyciu Sky Tower – transakcji o wartości ponad 84 mln euro

Adventum Group, grupa firm zarządzających funduszami inwestycyjnymi działająca na międzynarodowym rynku, zakupi Sky Tower – najwyższy budynek we Wrocławiu i jeden z najwyższych w Polsce. Wartość transakcji wynosi ponad 84 mln euro.

Develia S.A. (sprzedajacy) oraz Adventum Group (kupujący) zawarły umowę przedwstępną sprzedaży udziałów w Sky Tower. Transakcja ma być sfinalizowana do końca 2021 roku.

Kancelaria act legal w Polsce (act BSWW legal & tax) doradzała na rzecz Adventum w zakresie zawarcia umowy przedwstępnej i będzie kontynuować świadczenie usług prawnych na rzecz kupującego do zakończenia transakcji. Dotychczasowe doradztwo kancelarii obejmowało: badanie due diligence nieruchomości, przygotowanie dokumentacji transakcyjnej oraz wsparcie w procesie negocjacji.

Zespołem transakcyjnym kierowali radca prawny Marta Kosiedowska (Partner) oraz adwokat Marek Wojnar (Partner Zarządzający, współkierujący praktyką nieruchomości w kancelarii). Zespołem due diligence kierowała radca prawny Katarzyna Marzec (Partner). Zespół transakcyjny wspierała adwokat Anna Sawaryn (Starszy Prawnik).

„Wzrost portfela nieruchomości Adventum w Polsce jest imponujący. Jesteśmy dumni z zaufania jakim obdarza nas jeden z najszybciej rozwijających się funduszy na polskim rynku” – komentuje Marta Kosiedowska, Partner w act BSWW legal & tax.

„Wraz z tą transakcją portfel nieruchomości biurowych Adventum przekroczył powierzchnię 125,000 m², a nabycie Sky Tower wzmocniło pozycję Adventum na rynku nieruchomości w Polsce. Po raz kolejny mamy przyjemność wspierać naszego Klienta w ramach tak prestiżowej transakcji” – dodaje Marek Wojnar, Partner Zarządzający w act BSWW legal & tax.

Sky Tower jest jednym z najwyższych kompleksów biurowo-handlowo-mieszkaniowych w Polsce. Wysokość tego 50-piętrowego budynku wynosi 212 m. Poza powierzchnią najmu o wielkości 30.500 m², budynek oferuje 25.000 m² powierzchni handlowej, luksusowe apartamenty, bogate zaplecze rekreacyjne oraz wielopoziomowy parking podziemny. Całkowita powierzchnia budynku wynosi ok. 171.000 m².

Adventum Group to grupa butikowych firm zarządzających funduszami inwestycyjnymi, skoncentrowana na środkowoeuropejskich inwestycjach w nieruchomości. Zespół funduszu to doświadczeni specjaliści w zakresie nieruchomości z kwalifikacjami CFA, NRW oraz MRICS i łącznym doświadczeniem inwestycyjnym ponad 70 lat. Do tej pory fundusz zrealizował inwestycje w regionie Europy Środkowo-Wschodniej o łącznej wartości 1,5 mld EUR.

Doradcą sprzedającego była kancelaria Dentons.

New ways at Eterna StaRUG proceedings: First amendment of a StaRUG restructuring plan in ongoing proceedings and simultaneous entry of a new investor

The restructuring plan pursuant to StaRUG of eterna Mode Holding GmbH („Eterna”) was unanimously approved by the creditors on 10 September 2021. Shortly before the vote on the already submitted restructuring plan, act legal Germany, under the leadership of Dr. Alexander Höpfner, facilitates the entry of another investor in Eterna in the already ongoing restructuring plan proceedings, which increased the quota for the bondholders in the restructuring plan by 25%.

act legal Germany was mandated by Robus Capital Management Ltd. advised funds („Robus„) only at the end of August 2021 with the aim of being able to enter into Eterna as an investor in the short term in order to implement the best possible satisfaction of creditors.

At that time, the restructuring plan had already been filed pursuant to StaRUG and the meeting of the plan affected parties to vote on the restructuring plan („vote min„) had been set for 2 September 2021. With the help of act legal Germany, the voting date was moved to 10 September 2021, at which the plan stakeholders now unanimously approved the restructuring plan.

The entry of Robus made it possible to improve the quota for bondholders in the restructuring plan by a further 25%. Together with the Quadriga Capital Funds („Quadriga„), Robus is now supporting the transformation course embarked upon by the company with fresh capital.

Legally, the investor entry was implemented by Robus taking over shares on the basis of a capital increase provided for in the restructuring plan on the basis of contracts notarised before the voting date. In this way, it was ensured that the restructuring plan already submitted only had to be changed very slightly in the voting meeting. The voting date was thus preceded by an extensive M&A transaction.

Thanks to its special restructuring and M&A expertise, act legal Germany obtained an amendment to the restructuring plan in the ongoing proceedings (and thus a higher quota for the bondholders) for the first time in what are probably the largest StaRUG proceedings to date, and thus enforced and implemented the entry of a new investor / shareholder in the already ongoing proceedings in record-breaking time.

With a large number of market-renowned self-administration proceedings already successfully completed in 2020/2021 (most recently Saurer Spinning Solutions GmbH & Co. KG) and distressed M&A transactions (most recently the acquisition of the insolvent Nanogate Group by the US Techniplas Group), act AC Tischendorf’s insolvency/restructuring and distressed M&A practices are among the market leaders in Germany.

Advising Robus: act AC Tischendorf Rechtsanwälte, Frankfurt: Dr Alexander Höpfner (lead, restructuring), Dr Matthias Müller, MBA (restructuring / M&A), Dr Fabian Brocke, LL.M. (corporate M&A), Dr Felix Melzer (restructuring), Sarah Landsberg (corporate M&A)

act legal Polska doradza Adventum przy nabyciu Marynarska Point 1

Adventum Group, grupa firm zarządzających funduszami inwestycyjnymi działająca na międzynarodowym rynku, z sukcesem sfinalizowała transakcję nabycia Marynarska Point 1 w Warszawie od Savills Fund Management GmbH. Marynarska Point 1 to nowoczesny budynek biurowy oferujący 13.000 mkw. powierzchni najmu. Dzięki tej transakcji portfolio nieruchomości biurowych Adventum przekroczyło powierzchnię 75.000 mkw.

Kancelaria act BSWW legal & tax doradzała na rzecz Adventum w zakresie całego procesu nabycia nieruchomości. Doradztwo obejmowało: przygotowanie dokumentacji transakcyjnej, wsparcie w procesie negocjacji oraz doradztwo transakcyjne.

Zespołem transakcyjnym kierowali radca prawny Marta Kosiedowska (Partner) oraz adwokat Marek Wojnar (Partner Zarządzający, współkierujący praktyką nieruchomości w kancelarii). Zespołem due diligence kierowała radca prawny Magdalena Banaszczyk-Głowacka (Partner). Zespół transakcyjny wspierała Anna Olmińska-Kieżun (Prawnik).

– Jest to piąta nieruchomość zakupiona przez Adventum w Polsce w ciągu ostatnich dwóch lat; firma nabyła dotychczas Centrum Finansowe w Poznaniu, Renaissance Plaza w Warszawie, Katowice Business Point w Katowicach oraz Centrum Orląt we Wrocławiu – komentuje Marta Kosiedowska, Partner w act BSWW legal & tax.

– Cieszymy się z zaufania, jakim obdarza nas Klient. Mieliśmy okazję doradzać Adventum przy wszystkich tych projektach. Obecnie doradzamy funduszowi przy jego kolejnych przedsięwzięciach w Polsce – dodaje Marek Wojnar, Partner Zarządzający w act BSWW legal & tax.

Marynarska Point 1 to budynek biurowy klasy A, oferujący ponad 13.000 mkw. powierzchni biurowej na 11 kondygnacjach.

Adventum Group to grupa butikowych firm zarządzających funduszami inwestycyjnymi, skoncentrowana na środkowoeuropejskich inwestycjach w nieruchomości. Zespół funduszu to doświadczeni specjaliści w zakresie nieruchomości z kwalifikacjami CFA, NRW oraz MRICS i łącznym doświadczeniem inwestycyjnym ponad 70 lat. Do tej pory fundusz zrealizował inwestycje w regionie Europy Środkowo-Wschodniej o łącznej wartości 1,5 mld EUR.

Doradcą sprzedającego była kancelaria Dentons.

Successful termination of the insolvency proceedings of Saurer Spinning Solutions GmbH & Co. KG

Dr. Sven Tischendorf, MBA (self-administrator) and Dr. Alexander Höpfner (self-administrator) ensure the successful termination of the insolvency proceedings of Saurer Spinning Solutions GmbH & Co. KG by withdrawing the insolvency petition.

Sven Tischendorf in the function of CRO, Alexander Höpfner in the function of CIO and Dirk Andres in the function of administrator have been responsible for the self-administration of the traditional German company, one of the world’s leading textile machinery manufacturers, since 16 June 2021.

Saurer Spinning Solutions GmbH & Co. KG was founded in 1904 and has been part of the global technology group Saurer, listed on the Shanghai Stock Exchange, since July 2013. With annual sales of around EUR 450 million, Saurer Spinning Solutions GmbH & Co. KG employs around 1,200 people at a total of three locations in Germany.

The unfortunate combination of the negative effects of the COVID-19 pandemic and the impact of the tariff and trade wars on the strongly international supply relationships had put an unexpectedly heavy strain on the business of Saurer Spinning Solutions GmbH & Co. KG’s business was unexpectedly burdened.

In the past two months of the self-administration proceedings, the company has experienced a brilliant development as a result of the immediate stabilisation of business operations through self-administration and a generally good market momentum. The order intake was also increased to an unprecedented level during the insolvency proceedings.

Parallel to the operational tasks and the securing of stable financing, a limited investor process was initiated on the part of the proprietary and non-cash management, which was accompanied by IMAP M&A Consultants AG.

In the course of this investor process, a newly formed joint venture (https://www.rieter.com/de/medien/medienmitteilungen/newsdetail/rieter-erwirbt-drei-geschaefte-von-saurer) consisting of the previous shareholder and the listed Swiss Rieter Group prevailed over an international field of renowned strategists and financial investors.

With the investor solution that has now been found, the associated withdrawal of the insolvency petition and a 100% satisfaction of creditors, one of the fastest and most successful insolvency proceedings ever in Germany has been achieved.

The insolvency application was withdrawn on 17 August 2021. On the same date, the Aachen Insolvency Court lifted all protective measures.

To ensure a smooth transition, the team around Sven Tischendorf will continue to be available to the new management of Saurer Spinning Solutions GmbH & Co. KG will continue to be at the disposal of the new management.

With a large number of market-renowned self-administration proceedings already successfully concluded in 2020/2021, act AC Tischendorf’s insolvency and restructuring practice, led by partners Dr Sven Tischendorf, MBA and Dr Alexander Höpfner, is one of the market leaders in Germany.

Saurer self-administration: act AC Tischendorf Rechtsanwälte, Frankfurt: Dr. Sven Tischendorf, MBA (Lead, General Representative, CRO), Dr. Alexander Höpfner (Lead, General Representative, CIO), Dr. Felix Melzer (Litigation), Dr. Fabian Laugwitz, MBA, LL.M (Commercial)

Saurer’s trustees: andres partner, Düsseldorf: Dr. Dirk Andres, Dr. Claus-Peter Kruth, Daniel Salzburg

Addtech acquires systerra computer GmbH

Addtech Automation, a business area in the Addtech Group, has signed an agreement to acquire all shares outstanding in systerra computer GmbH (”systerra”).

systerra delivers high-end standard, customized and own products within embedded computer systems and network solutions. The business is mainly focused on OEM-customers within industrial automation, medical technology, transportation, aerospace and defense.

systerra will very effectively complement Addtech’s current operations in the business area Automation and strengthens our position in the German market. The company has 16 employees and sales of around 9,5 MEUR.

The closing is expected to take place in the beginning of September 2021 and the acquisition is estimated to have a marginally positive effect on Addtech’s earnings per share during the current financial year.

About Addtech

Addtech is a technical solutions group that provides technological and economic value added in the link between manufacturers and customers. Addtech operates in selected niches in the market for advanced technology products and solutions. Its customers primarily operate in the manufacturing industry and infrastructure. Addtech has about 3,000 employees in more than 140 subsidiaries that operate under their own brands. The Group has annual sales of more than SEK 11 billion. Addtech is listed on Nasdaq Stockholm.

Legal Advisors Systerra

Dr. Fabian Brocke, LL.M., (M&A, project management, partner),
Marcus Columbu, (M&A, project management, partner),
Dr. Marco Loesche (commercial law, partner),
Dr. Thomas Block, MBA (employment law, partner).

Successful closure of the self-administration proceedings of WFS Wurst-Fleischwaren-Service Vertriebsgesellschaft mbH

The supplier of sausage and meat products WFS Wurst-Fleischwaren-Service Vertriebsgesellschaft mbH from Mörfelden-Walldorf near Frankfurt am Main has successfully completed its insolvency proceedings after about nine months. With its decision of 23 July 2021, the Darmstadt Local Court cancelled the insolvency proceedings over the company’s assets. Prior to this, the creditors’ meeting in mid-June had unanimously accepted the insolvency plan submitted by the company.

WFS filed for insolvency proceedings in self-administration in October 2020. The difficult situation in the transport and hotel industry due to the effects of the worldwide COVID 19 pandemic was the reason for the decision to carry out a restructuring within the framework of self-administration with an insolvency plan.

The company will then focus on its core competencies and the expansion of its unique selling points in order to secure its existing business. In addition, new customer segments besides the classic transport and hotel business are to be developed in a targeted manner. In order to create a cost structure that is competitive in the long term, significant staff reductions were implemented in the course of the insolvency proceedings. „With these painful cuts, we have created the necessary conditions for the preservation of more than 40 qualified jobs and thus further strengthened the production location in Mörfelden-Walldorf,” says Managing Director Helge Klein. After it became known that the state aid (bridging aid III) would not be paid out within the current insolvency proceedings, the insolvency plan had to be finalised at short notice and the process had to be brought to a tight conclusion. This was ultimately achieved through the cooperation of all parties involved in the process. Ultimately, the success of the restructuring was made possible by extensive financial contributions from the previous managing partner.

WFS is an owner-managed family business with a history of almost 50 years. The company supplies the first-class hotel trade, the catering trade and the transport catering trade with a comprehensive range of meat and sausage products comprising around 2,800 articles. In 2019, WFS achieved sales revenues of around EUR 37 million with an annual average of 117 employees.

With the market-renowned self-administration proceedings of Baden-Board, Picard, JMT, Hallhuber and Vossloh-Schwabe already successfully completed in 2020/2021 and the self-administration proceedings of Saurer Spinning Solutions currently still ongoing, act AC Tischendorf’s insolvency and restructuring practice, led by partners Dr Sven Tischendorf, MBA, Dr Alexander Höpfner and Dr Felix Melzer, is one of the market leaders in Germany.

WFS trusteeship: act AC Tischendorf Rechtsanwälte, Frankfurt: Dr Alexander Höpfner (trustee)

Dr Felix Melzer, Dr Sven Tischendorf, MBA and Dr Alexander Höpfner are responsible for the self-administration of Rhein-Plast GmbH, Bad Dürkheim

Felix Melzer, Sven Tischendorf and Alexander Höpfner have been responsible for the self-administration of the long-established manufacturer of special films, among other things, since 18 June 2021.

In the course of the preparation and implementation of the self-administration proceedings pursuant to § 270 ff, 270b InsO („protective shield proceedings”), Dr. Sven Tischendorf, MBA, Dr. Alexander Höpfner and Dr. Felix Melzer strengthen the management of Rhein-Plast GmbH as general representatives both operationally and as experts in insolvency law.

The unfortunate combination of the negative effects of the COVID-19 pandemic and the impact of the raw materials crisis on the strongly international supplier relationships had unexpectedly placed a heavy burden on the business of Rhein-Plast GmbH. Rhein-Plast GmbH has good substance and at the same time the order situation is currently increasing significantly. With the help of the protective umbrella, the operative business can be continued in an orderly manner in every respect and can also be developed sustainably.

Rhein-Plast GmbH is an owner-managed family business based in Ungstein, a district of Bad Dürkheim. It was founded in 1959 in Ludwigshafen-Ruchheim and has been producing at the Bad Dürkheim-Ungstein site since 1969.

Rhein-Plast GmbH produces high quality films (PE films) and packaging materials made of recycled plastic from polyethylene granulates. The films produced are processed into bags, sleeves, pouches, rolls and sacks of various sizes and designs for a wide range of packaging applications. Rhein-Plast GmbH’s customers are primarily companies in the pharmaceutical, medical and bio-tech industries, the chemical industry, the food industry, suppliers to the automotive industry, the clothing industry, furniture manufacturers and waste disposal companies. The company focuses on the production of primary packaging materials for the pharmaceutical industry and other applications with high hygiene requirements.

With an annual turnover of approximately EUR 12 million, Rhein-Plast GmbH employs 107 people.

With the well-known self-administration proceedings of Baden-Board, Picard, JMT, Hallhuber and Vossloh-Schwabe already successfully completed in 2020/2021 and the self-administration proceedings of Saurer Spinning Solutions currently underway, act AC Tischendorf’s insolvency and restructuring practice, led by partners Dr. Sven Tischendorf, MBA, Dr. Alexander Höpfner and Dr. Felix Melzer, is one of the market leaders in Germany.

Rhein-Plast self-administration: act AC Tischendorf Rechtsanwälte, Frankfurt: Dr. Felix Melzer (general representative), Dr. Sven Tischendorf, MBA (general representative), Dr. Alexander Höpfner (general representative)

Rhein-Plast insolvency administrator (Sachwalter): Reimer Rechtsanwälte, Mannheim: Thomas Rittmeister

270b certificate/self-administration planning: Turnaround Management Partners, Düsseldorf/Frankfurt a. M.: Nick Piepenburg, Marc Schneider

act legal Polska doradza Adventum przy refinansowaniu biurowca w Poznaniu

Adventum, międzynarodowy fundusz inwestycyjny, z sukcesem sfinalizował transakcję refinansowania Poznańskiego Centrum Finansowego. Nowe finansowanie zostało przyznane przez bank Berlin Hyp AG.

Kancelaria act legal Polska doradzała na rzecz Adventum w zakresie całego procesu refinansowania. Doradztwo obejmowało: przygotowanie dokumentacji transakcyjnej, wsparcie w procesie negocjacji oraz doradztwo transakcyjne.

Zespołem transakcyjnym kierowała radca prawny Marta Kosiedowska (Partner) oraz adwokat Marek Wojnar (Partner Zarządzający, współkierujący praktyką nieruchomości w kancelarii), przy wsparciu adwokata Mariusza Grochowskiego (Starszy Prawnik).

Z satysfakcją wspieramy Adventum przy kolejnym projekcie dotyczącym finasowania działalności naszego Klienta na rynku nieruchomości w Polsce – mówi Marta Kosiedowska.

Adventum to grupa butikowych firm zarządzających funduszami inwestycyjnymi, skoncentrowana na środkowoeuropejskich inwestycjach w nieruchomości.

Doradcą Berlin Hyp AG była kancelaria Deloitte Legal.

act legal Czech Republic advised Sokolov Chemical Company Synthomer a.s.

act legal Czech Republic (act Řanda Havel Legal) provided legal advice to the Sokolov chemical company, which is part of the global chemical group Synthomer, in connection with the planned transition to a new source, which should be more environmentally friendly.

Sokolov chemical company Synthomer a.s. will build a new energy source for almost 140 million crowns. The original coal source will replace the gas source, which is to contribute to improving the environment and reducing coal mining. On 15 June, the representatives of Synthomer, the Senate of the Czech Republic, the Karlovy Vary Region, the municipal authority of Sokolov and the supplier company took part in the ceremonial signing of the contract with the supplier CHP Trading on the construction of a new source.

This is one of the largest investment events of the company in its history. Thanks to the new source, CO2 emissions will be reduced by a third, emissions of other pollutants and water abstraction from the Ohře River will significantly fall. This is another major contribution of Synthomer to improving the environment in Sokolov. The original coal source was built in the Sokolov chemical plant in 1917, when the plant itself was established. The new source of steam production in Synthomer will include three high-pressure steam boilers that will burn natural gas.