It was recently announced that CMP Capital Management-Partners will acquire Bavaria Yachtbau. It will also acquire all shares in French subsidiary BavariaCatamarans S.A.S at an undisclosed price.
"Bavaria is an outstanding company with a strong brand, compelling products and a highly dedicated team. We are pleased to have found a well-known and experienced buyer in CMP who will lead Bavaria into the future,” stated restructuring expert Dr. Tobias Brinkmann, Managing Director of Bavaria Yachtbau since insolvency proceedings began in April 2018. “The entire management would like to thank our employees, yacht dealers, customers and suppliers. They have all supported Bavaria Yachtbau during the insolvency proceedings. The fact that Bavaria has been able to successfully build and deliver 220 yachts during the last five months shows how committed and reliable our staff is.”
All 800 employees of Bavaria Yachtbau in Giebelstadt and Bavaria Catamarans in Rochefort will transfer to CMP. Additionally, a corresponding purchase contract between the management of Bavaria Yachtbau GmbH and CMP was concluded and notarized today. The creditors' committee and the administrator of Bavaria Yachtbau GmbH, Dr. Hubert Ampferl both authorized their approval of the changes. The purchase will be completed after merger control clearance is given by the German Federal Cartel Office, which is expected in a couple of weeks.
CMP Capital Management-Partners is a German investment company that has specialised in the acquisition of companies in distress in Germany, Austria and Switzerland since its foundation in 2000. CMP’s private equity funds are advised by Berlin-based CMP Capital Management-Partners. With the investment in a company, CMP employees assume operative management responsibilities on site. In the case of Bavaria, Dr. Ralph Kudla, restructuring expert and partner at CMP, will join the executive board.
"We are convinced of Bavaria's global market potential and will sustainably develop the company,” shared Kai Brandes, Managing Director of CMP Capital Management Partners. “The restructuring measures will focus on regaining market share and improving production costs.”
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