Strategic financial investor acquires CAR-connect assets for new technology company

  • Team around development manager Dr. Rudolph starts again with 66 employees
  • Trustee Manuel Sack and the creditors’ committee agree to the purchase agreement
  • Reorganization Manager Elsäßer: “Listen, create clarity and adapt processes and structures to market within three months”

Leiferde / Gifhorn, October 15, 2021

The court-appointed trustee Manuel Sack from Brinkmann & Partner and the members of the creditors’ committee of CAR-connect GmbH have approved a purchase agreement with a strategic financial investor for a transferring restructuring. The purchase contract for the assets of the developer of innovative measurement, diagnostic and high-voltage charging technology for future-oriented mobility technologies is now legally binding. The parties have agreed not to disclose the content of the sales contract itself.

The acquired assets will be transferred to a newly founded company around the team of the long-standing development manager Dr. Stephan Rudolph transferred. The new company, based in Gifhorn, with a total of 66 employees faces the competition in the field of battery technologies.

“We talked to and listened to those involved in the procedure about numbers and data as well as about the corporate culture from the inside out. We were then able to create clarity about processes and procedures in the company at all levels. The restructuring solution is such that in a newly founded company, cost and personnel structures, in particular, are being adjusted in line with the market and the entire business is organized efficiently, ”explains restructuring expert and restructuring manager Andreas Elsäßer from plan> E.

In parallel to these operationally necessary decisions, WAYES managed and moderated the structured investor process with several dozen interested parties as the exclusive M&A advisor to the self-managing management and under the supervision of the administrator.

“The top-class development team was always involved in the question of which of the remaining seriously interested investors could implement the best offer in a sustainable manner. Only in this way did we come to a successful solution that was accepted by everyone, ”said the trustee, commenting on the procedure.

About plan> E by ELSÄSSER

plan> E by ELSÄSSER guides medium-sized companies through difficult special situations. The experienced lawyers and business graduates from plan> E act far beyond classic consulting topics: From the plan to the result, they take on responsibility in the management with a clear management approach. Family entrepreneurs in particular trust the expertise of the plan> E team, some of which have been leading companies through reorganization and restructuring operations for years.

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About Brinkmann & Partner

Brinkmann & Partner has been one of the most successful German restructuring and insolvency administration firms for years.

Brinkmann & Partner has 30 branches and 270 employees in all of Germany’s economic centers. Thanks to its entrepreneurial approach, Brinkmann & Partner has acquired a leading reputation in the restructuring of companies and, with over 20 administrators, is one of the largest German insolvency administration firms.

About WAYES GmbH & Co. KG

WAYES was founded in 2001 as comes management consultancy and has been operating under its current name since autumn 2021. The independent management consultancy specializes in the central issues of medium-sized companies. The core areas are restructuring, procedures as well as transactions and transformation. The company has locations in Hamburg, Bremen, Oldenburg, Hanover and Berlin – and currently employs over 40 people. Customers include well-known owner-managed and listed companies that are shown ways to new opportunities.