(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 =-------------------------------------------------------------------- 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. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de =-------------------------------------------------------------------- 364585 2015-06-02
(END) Dow Jones Newswires
June 02, 2015 07:51 ET (11:51 GMT)