The Schug family acquires the internationally leading Krumbach company – All employees are taken over
A buyer has been found for the Krumbach-based manufacturer of machinery and equipment Hans Lingl Anlagenbau und Verfahrenstechnik GmbH & Co KG (Lingl). The investor is the Schug family from Pressath in the Oberpfalz.
Lingl was founded in 1938 and is one of the leading international manufacturers of machinery and equipment in the fields of coarse ceramics, sanitary and technical ceramics as well as automation and robotics. The company filed for insolvency on 5 October 2020, and auditor Arndt Geiwitz from the Neu-Ulm law firm SGP Schneider Geiwitz was appointed as insolvency administrator. On site at Lingl, SGP partner Christian Plail is responsible for managing the proceedings and a strategic partner was found together as part of an international distressed M&A process led by starkpartners consulting GmbH.
All employees are taken over
Through the sale to the Schug family, the continuation of the traditional company is now secured in the long term. All 230 employees will be taken over. In the course of the process, a considerable reduction of jobs had already taken place. About 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 is, among other things, the owner of Lippert GmbH & Co. KG (Lippert), a mechanical engineering company from Pressath in the Oberpfalz. Lippert specialises in plants for the porcelain industry, conveyor technology and automation solutions. The internationally active family-owned company, now in its third generation, employs around 370 people “From our point of view, the two companies fit together very well. There are a lot of synergies that now need to be leveraged. We see ourselves as a long-term, strategic investor who wants to maintain the location and promote long-term further development,” explains Hubert Schug, CEO of Lippert.
Christian Plail: “Lingl was successfully stabilised”.
After filing for insolvency at the end of 2020, the focus in the proceedings was on maintaining production and securing existing customer and supplier relationships. “With a committed workforce under the leadership of the restructuring managing director Alexander Kögel, we succeeded in maintaining business operations to the full extent and implementing necessary restructuring measures despite the restrictions caused by the corona pandemic. This was an essential prerequisite for the talks with potential investors. We had a pleasingly high number of interested parties, among whom the Schug family ultimately turned out to be the ideal partner for Lingl,” explains Christian Plail, head of the Augsburg law firm SGP Schneider Geiwitz.
The employees of Lingl were informed about the new development during a staff meeting. The transfer of business operations is planned for the beginning of May. The sale still has to be approved by the creditors’ committee.
The starkpartners-Team enabled a successful conclusion of the transaction through a structured distressed M&A 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 staff all the best for the future!