Walther Transaction is repetitively active in the area of carve-outs. One example is our advice to HÖRMANN Automotive, a division of the HÖRMANN Group, on the sale of its subsidiary HÖRMANN Automotive Eislingen (HAE). HAE specializes in the production of tanks and containers for buses, agricultural and construction machinery as well as covers and flap systems for buses.

Like other clients, HÖRMANN Automotive would like to concentrate on its strategic core areas in order to strengthen its competitiveness in the face of structural transformations in the automotive supplier sector and focus on the development and production of components and systems for chassis, bodywork and battery trays for commercial vehicles. Therefore there was a need of a "good home" for the Eislingen site and the 90 employees working there was made. This was found with Rheingold Capital, an investment company that specializes in carve-outs and has extensive experience in the development of industrial companies in specific niches.

Walther Transaction set up a structured sales process at the beginning of 2023 in order to qualify as many potential bidders as possible and identify the best possible offer for HÖRMANN Automotive.

Read the full press release on the successful transaction here.

macx.® by Walther Transaction exclusively advised J. Klausner Professional Multimedia GmbH on its external succession solution Located in Innsbruck, Austria, the company for media technology, AV distribution and system integration was sold to Heinekingmedia GmbH, market leader in Germany in the areas of digital education, communication and collaboration and since 2021 a portfolio company of Premium Equity Partners.

During the nine-month sales process, the macx.® team approached more than 210 potential investors across Europe to find the most suitable partner for J. Klausner. The winning bidder was Heinekingmedia, who is using the acquisition to enter the Austrian market as part of the implementation of their European growth strategy and to strengthen their market position as a leading provider and partner in the digitization of education in the DACH region. Read the full press release on the successful transaction here.

Walther Transaction GmbH has successfully sold the brand rights of the two Berlin fashion labels "Blacky Dress" and "Jean Paul" out of insolvency proceedings to the international strategic investor ANEX from Turkey. The sales process was handled by macx.® distressed, the division of Walther Transaction, which handles sales processes for insolvent small businesses digitally, efficiently and with the high probability of success which is typical for Walther Transaction.

In close cooperation with SRI Rechtsanwaltsgesellschaft mbH, the macx.® distressed team conducted a broad international approach of potentially interested parties.. In a total of three qualification rounds of more than 160 potential investors were conducted. Read the full press release on the successful transaction here.

Walther Transaction exclusively advised the shareholders of 4voice AG, a leading speech-to-text solutions provider for healthcare facilities and hospitals in Germany, Austria and Switzerland, on their succession solution. Speech Processing Solutions GmbH (SPS), whose portfolio includes innovative cloud and desktop software for dictation and transcription as well as best-in-class dictation devices, qualified in a bidding process managed by Walther Transaction as the most suitable strategic partner from a field of international investors. The transaction was completed in less than five months to the high satisfaction of all eight shareholders. In SPS, 4voice has found a suitable investor who is committed to continuity and expansion of our successful strategy.

4voice main shareholder Kurt Martin was very pleased with the successful transaction and will withdraw from direct control of 4voice as part of the succession solution. However, he will accompany the further path of SPS and 4voice in an advisory capacity, in particular, within the framework of SPS's planned buy-and-build strategy. Read the full press release on the successful transaction here. 

Walther Transaction GmbH exclusively advised GFS in its search for a new suitable majority shareholder. With the investment company Marondo Small Cap Growth Fund I, one has now been found for the expert in billing audits in the healthcare sector. Within the context of the change of shareholders, the long-term private shareholders of GFS withdrew due to age. 

In a 7-month sales process managed by Walther Transaction, Marondo qualified as the most suitable new majority shareholder from a broad field of bidders. 

Besides achieving a purchase price in line with the market all other decision criteria were very well met by Marondo. The participation of Marondo allows GFS to continue the excellent cooperation with its customers unchanged through proven management and employees, but also to realize strategic development opportunities and to accelerate the planned growth course with additional capital. Read the full press release on the successful transaction here.

A medium-sized manufacturer of building materials almost always achieved positive figures in its 125-year existence despite all external upheavals. However, with too large, partially unprofitable investments and a pronounced weakness in demand the manufacturer ended up in a loss-making situation.

The project team and the interim manager took comprehensive measures in sales and pricing policy as well as measures to reduce costs. The company returned to writing black figures again on a sustainable basis. However, it was clear that with a market position of 11 out of 18 market participants, it was difficult to win in the cut-throat competition against international groups in the long term. The return calculations for the next investment necessary to maintain long-term competitiveness were all negative. After intense discussions with all shareholders, the decision to sell the company was mutually agreed on.

Discussions were held with selected strategists, and after nine months, thanks to a proactive approach, a favorable solution was found for the shareholders at the right time. Subsequently there were many more transactions in the same market segment. Today there are only eight market participants. The company continues to exist successfully at its old location under its old, established name.

A traditional mechanical engineering company with three unrelated business areas had been in family hands for many years. The global economic crisis caused a decline in sales. Furthermore, the technological advantage over larger competitors was insufficient and the internal structure too complex.

After an 11-week bidding competition, the main business unit was sold to a Dutch financial investor, who also put the company on a sustainable footing with the help of an interim manager provided by the project team. A second division was completely taken over by a strategic investor. The third division was no longer viable at the location and was closed. Almost all the laid off employees found another job on short notice.

The main business unit continues to exist under its old brand name and is developing profitably.

An internationally operating paper manufacturer came under considerable pressure due to rising raw material costs and falling sales prices. Numerous measures such as strengthening premium products, intense price negotiations, outsourcing of the service area, introducing factoring and intense monitoring of the inventories did not lead to a sustainable improvement of the situation.

The project team balanced the different interests of a total of eight financing partners, the company, the family shareholders and the advisory board. From the worldwide approach process, one English, one Irish and one Malaysian bidder remained. Ultimately, the stock listed Irish bidder took over the company and ensured a solution for the future of more than 500 employees.