Insolvency administrator finds a purchaser with wide experience in the sector – Speedliner Mobility AG will take on all employees – in future, bicycles will also be manufactured at the Zerbst plant
Dessau/Rosslau, 04 Sep. 2017: Euro-Bike Produktionsgesellschaft mbH has a new owner. The insolvency administrator, attorney Dr. Christian Heintze of the nationwide operating insolvency administrator BBL Bernsau Brockdorff has found a purchaser in Speedliner Mobility AG. The Bremen-based manufacturer of cargo and delivery bicycles for trade, industrial and service companies is taking over Euro-Bike. Speedliner will continue to operate the company in Zerbst with no restrictions. All 30 jobs will be preserved.
“Speedliner presented a very convincing plan and, as an industry insider, it was an ideal partner,” explains Heintze. The Bremen-based company operates in a section of the bicycle market that is currently seeing strong growth: More and more companies in Germany are making extensive use of utility and delivery bicycles. Speedliner is one of the leading suppliers of this market. Its customers include many large companies with international operations.
“It was important to us that the employees should have future prospects. The team at EuroBike is both highly qualified and strongly motivated.” The company’s know-how was a major factor in Speedliner’s decision to invest in a new production plan in Zerbst.
Heintze especially welcomes the fact that Speedliner will not only maintain the assembly of bicycles for final customers but also intends to expand its production: in future, Speedliner intends to manufacture its bicycles in Zerbst also. “With this investor’s sound experience of the branch, Euro-Bike is excellently positioned and viable going forward in a challenging market environment”, Heintze stresses.
Euro-Bike Produktionsgesellschaft ran into difficulties when one of its main customers unexpectedly cancelled a long-standing assembly order in favour of carrying out assembly in-house. Heintze, as the temporary insolvency administrator, together with his team initiated the search for investors at a very early stage in order to find a suitable purchaser as soon as possible. A number of prospective buyers, both German and international, showed interest in the company.
BBL is one of the leading German law firms with excellent connections, focusing solely on special situations – restructuring, rehabilitation and insolvency. We have significant experience in drawing up and implementing complex restructuring concepts within and outside the scope of insolvency proceedings. More than 50 lawyers are present in Germany and in London.
Further information: www.bbl-law.de
Contact partner for media:
Dr. Constanze Baumgart
Guttmann Law Communications
Tel.: +49 221 3596405