Mummert & Company exclusively advised WAFA Beteiligungs GmbH i.I. and the insolvency administrator, Mr. Joachim Exner, Dr. Beck & Partner, on a Management Buy Out of the Spanish subsidiary WAFA Spain S.A.
WAFA Spain’s General Manager Xavier Casas Algarra and Director Gabriel Badrines have acquired 100% of the Spanish entity from WAFA Beteiligungs GmbH i.I., the German holding company of WAFA Group, an electroplating and plastic injection molding supplier for international automotive OEMs and Tier-1 customers.
WAFA Spain S.A. has a workforce of approx. 270 employees in its two local manufacturing facilities in Spain. The premises are located near Barcelona encompassing a fully integrated injection molding manufacturing plant in Santa Perpètua de Mogoda (Vallès Occidental) as well as an electroplating facility in Esparreguera (Baix Llobregat).
After WAFA Beteiligungs’ insolvency the Management decided to acquire the Spanish entity. WAFA Spain S.A. has not filed for insolvency but was indirectly affected and under supervisory of the insolvency administrator. The deal will allow WAFA Spain S.A. to maintain its entire workforce. In 2014, the company reported sales of EUR 34m.
“Due to the great entrepreneurial effort of the management, the combined forces of the insolvency administration and banks involved, over 270 employees have a future in a challenging environment. Customers, banks and workforce are convinced that Xavier Casas Algarra and Gabriel Badrines are the right investors and partners for WAFA Spain S.A.
WAFA Spain S.A. now has a secured financial position to serve its long-standing customer relationships in the OEM and Tier-1 space in Southern and Western Europe and has excellent future growth prospects” explained Dirk Liedtke, Managing Partner at Mummert & Company.
SHORT PROFILE MUMMERT & COMPANY CORPORATE FINANCE GMBH
Mummert & Company is a leading corporate finance advisor, with particular expertise in the sectors Business Services, TMT, Industrial Technologies, Life Sciences and Energy. With offices in Munich, Vienna and Princeton (USA), Mummert & Company provides advisory services for the purchase or sale of companies or shareholdings (mergers & acquisitions), for the raising of equity capital (venture capital, private equity or the capital markets) and debt capital, for restructurings, for valuations (fairness opinions) as well as for the privatization of government-owned enterprises.
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SHORT PROFILE WAFA GROUP
WAFA Kunststofftechnik GmbH along with its former Spanish affiliate WAFA Spain S.A. is an innovative system supplier of high-quality surface finished plastic interior and exterior components for the automotive industry. WAFA covers a broad range of production technologies supplying in particular injection-molded, electroplated, lacquered and assembled plastic components to automotive OEMs and Tier 1s worldwide. As a fully integrated supplier of automotive plastic components, the Company covers the entire value chain, from engineering through injection molding and surface finishing to assembly of components. WAFA Group operated four production facilities in Germany and Spain and is headquartered in Augsburg, Germany (Bavaria), where the Company was established in 1949.
www.wafa.com
SHORT PROFILE DR. BECK & PARTNER GBR
Dr. Beck & Partner is a supra-regional partnership of lawyers and insolvency administrators, who are exclusively involved in insolvency administration and insolvency law. Besides insolvency administration, especially the implementation of debtor-in-possession-proceedings, “insolvency protection proceedings” and the work of trustees according to the ESUG, are part of Dr. Beck’s area of expertise.
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