(DGAP-Media / 2015-06-02 / 13:51)
Munich, 28th May 2015 - Callista Private Equity GmbH & Co. KG ("Callista
Private Equity") announces the successful completion of the reorganization
proceedings under self-administration of MWK Renningen GmbH. The
self-administration plan submitted to the Local Court (Amtsgericht) in
Ludwigsburg was unanimously adopted by all of the creditors on the 21th of
May 2015. Callista Private Equity provided MWK Renningen GmbH with the
funding for the reorganization proceedings including the transfer company
and the self-administration plan. As a consequence the company could
complete the restructuring phase within 13 months after closing of the
transaction.
MWK Renningen GmbH develops and manufactures high-quality aluminum products
especially for the automotive industry. The company has a total head-count
of 125 employees at the production site in Renningen. The client portfolio
consists of well-known automobile manufacturers such as Daimler, Volkswagen
Group with its brands Porsche, Bentley Volkswagen, Audi and MAN as well as
Aston Martin.
In course of the restructuring proceedings the organization as well as the
product portfolio was optimized and a special focus was set on a
customer-oriented development. Surplus labor was reduced in a socially
acceptable way through a transfer company and the cost base was adjusted to
current market conditions. The funding required was provided by the sole
shareholder Callista Private Equity. After almost one year the company
achieved a competitive position which enables a sustainable growth.
While the company reported total revenues of EUR 20m and a significant loss
of EUR 6.5m in 2014, the management team aims towards a neutral result for
the current fiscal year at a revenue growth basis of more than 20%.
Marc Zube, Chief Operating Officer of Callista Private Equity, comments on
the development: "We can show with the successful completion of the
restructuring proceedings that a necessary reorganization of a company on a
stand-alone basis can be performed faster and more efficient than within a
group structure. We successfully managed the challenging reorganization
case of MWK Renningen. Furthermore we secured 125 jobs and increased the
enterprise value significantly during the reorganization proceedings. We
would like to thank our clients for the support and trust especially in the
past 13 months."
About Callista Private Equity
Callista Private Equity GmbH & Co.KG ("Callista Private Equity")
headquartered in Munich, Germany focuses on the acquisition of majority
stakes of distressed companies, business units or non-core group assets
with negative EBIT-margins. The success of Callista Private Equity is based
on the operational and financial improvement of company structures to
enable a long-term growth. The international management team of Callista
Private Equity provides the company with deep industry and turn-around
expertise to initiate restructuring measures and to return to sustainable
profitability.
www.callista-pe.de
Kontakt:
Christian Muschick
Callista Private Equity GmbH & Co.KG
Konrad-Zuse-Platz 8
D-81829 München
T +49 89 207042-430
F +49 89 207042-431
c.muschick@callista-pe.de
End of Media Release
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Issuer: Callista Private Equity GmbH & Co. KG
Key word(s): Finance
2015-06-02 Dissemination of a Press Release, transmitted by DGAP - a
service of EQS Group AG.
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364585 2015-06-02
(END) Dow Jones Newswires
June 02, 2015 07:51 ET (11:51 GMT)
