Distressed M Project Successfully Completed - Plant Manufacturer LINGL is Saved

The Schug family acquires the internationally leading Krumbach-based company – all employees will be taken on

A buyer has been found for the Krumbach-based manufacturer of machines and plants Hans Lingl Anlagenbau und Verfahrenstechnik GmbH Co KG (Lingl). The investor is the Schug family from Pressath in Upper Palatinate.

Lingl was founded in 1938 and is one of the world’s leading manufacturers of machines and plants in the fields of coarse ceramics, sanitary and technical ceramics, as well as automation and robotics. The company filed for insolvency on October 5, 2020, and auditor Arndt Geiwitz from the Neu-Ulm-based law firm SGP Schneider Geiwitz was appointed as insolvency administrator. On site at Lingl, SGP partner Christian Plail is responsible for overseeing the proceedings, and as part of an international distressed MA process, led by starkpartners consulting GmbH, a strategic partner was successfully found together.

All employees will be taken on

The sale to the Schug family of entrepreneurs ensures the long-term survival of the traditional company. All 230 employees will be taken on. In the course of the proceedings, a significant reduction in jobs had already taken place. Around 120 former Lingl employees moved to a transfer and qualification company.

Hubert Schug: “We want to develop Lingl in the long term”

The Schug family of entrepreneurs also owns Lippert GmbH Co. KG (Lippert), a mechanical engineering company from Pressath in Upper Palatinate. Lippert specializes in systems for the porcelain industry, conveyor technology and automation solutions. The internationally operating family business, which is in its third generation, employs around 370 people. “From our point of view, the two companies fit together very well. There are a large number of synergies that now need to be exploited. We see ourselves as a long-term, strategic investor who wants to maintain the location and promote long-term development”, explains Hubert Schug, CEO of Lippert.

Christian Plail: “Lingl has been successfully stabilized”

After the insolvency application at the end of 2020, the focus of the proceedings was on maintaining production and securing existing customer and supplier relationships. “With a dedicated workforce under the leadership of restructuring managing director Alexander Kögel, we have succeeded, despite the restrictions imposed by the Corona pandemic, in maintaining business operations in full and implementing necessary restructuring measures. This was an essential prerequisite for talks with potential investors. We had a gratifyingly high number of interested parties, with the Schug family ultimately proving to be the ideal partner for Lingl”, explains Christian Plail, head of the Augsburg office of SGP Schneider Geiwitz.

Lingl’s employees were informed about the new development at an employee meeting. The transfer of business operations is scheduled for the beginning of May. The sale still needs to be approved by the creditors’ committee.

The starkpartners team enabled the successful completion of the transaction through a structured distressed MA process. The high level of investor interest, also due to starkpartners’ international investor network, led to a competitive and successful bidding process.

We would like to thank everyone involved for their support in the project and wish the employees all the best for the future!