Firm News

Gleiss Lutz advises insolvency administrator in connection with takeover of the automotive supplier UBC by Operando

Gleiss Lutz advised the insolvency administrator Dr. Holger Leichtle of the law firm Schultze & Braun on the takeover of the automotive supplier UBC by the rescue company UBC Composites GmbH. The acquiring company is backed by the owners of the industrial holding company Operando Partners GmbH as well as by two German medium-sized family-owned businesses.

In the course of the transaction, UBC Composites GmbH will take over the operative business of the specialist manufacturer of carbon fibre parts and assemblies with effect as of 1 February 2019. As a result, 58 jobs and the Murr site will be safeguarded.  The Freiberg am Neckar site will be shut down in the insolvency proceedings. UBC which, above all, manufactures for the automotive industry – its largest customer is Porsche – filed for insolvency on 9 February 2018.

Schultze & Braun is a leading service provider for insolvency administration and advising of companies in crisis and has around 700 employees at more than 40 locations in Germany and throughout Europe.

Operando Partners GmbH is an industrial holding company that primarily invests in established medium-sized companies in Germany, Austria and Switzerland with turnover of up to EUR 150 million.

Schultze & Braun was advised by the following team of Gleiss Lutz lawyers: Dr. Matthias Tresselt (lead, partner, corporate/restructuring, Stuttgart), Dr. Patrick Mossler (partner, corporate/restructuring, Hamburg), Friedrich Schlott (corporate/restructuring, Stuttgart) and Dr. Gregor Wecker (counsel, competition/antitrust, Stuttgart).