- Insolvency administrator sells the S.M.A. Group after two years of continued operation
- Around 1,200 jobs worldwide to be retained
S.M.A. Metalltechnik GmbH & Co. KG was successfully sold after two years as part of the insolvency proceedings. During this period, it was possible to stabilize the business operations of the S.M.A. Group and make them fit for the future. Around 1,200 jobs worldwide can thus be preserved.
S.M.A. Metalltechnik, headquartered in Backnang, Germany, specializes in the development and manufacture of high-density aluminium tubes, particularly for cooling media in the automotive sector, such as for interior air conditioning and battery cooling. In recent years, the company has built up long-term relationships with well-known customers in the automotive industry.
“By investing in the implementation of a fully automated production line at the headquarters, we have succeeded in aligning the company with the technological requirements of the future and taking an important step towards competitiveness in the field of electromobility,” explained insolvency administrator and GÖRG partner Dr Holger Leichtle. The state-of-the-art production line will enable the company to meet the increasing demand from car manufacturers for innovative solutions for e-mobility.
At the same time, several products were relocated from the headquarters in Backnang to the foreign subsidiaries of S.M.A. Metalltechnik GmbH & Co. KG in order to create space for the new production facility in Backnang and to make the Group's international production more efficient. The successful production ramp-ups at the sites in South Africa and Romania were decisive for the global orientation of the S.M.A. Group, which has a further site in China. “These measures make it possible to ensure the company's global delivery capability even in difficult times,” continued Dr Holger Leichtle.
S.M.A. Metalltechnik was acquired by the private equity investor Mutares SE & Co. KGaA. An agreement was signed to acquire the assets of S.M.A. Metalltechnik GmbH & Co. KG and its subsidiaries was signed. S.M.A. Metalltechnik GmbH & Co. KG will be integrated into the SFC Group as a new subsidiary with the aim of strengthening SFC's product expertise and customer portfolio. The transaction is expected to be completed in Q4 2024.
In his role as insolvency administrator of S.M.A. Metalltechnik, Dr Holger Leichtle thanked the customers involved, who maintained their support and trust in the company throughout the insolvency proceedings: “The success of the proceedings and in particular the installation of the new production in Backnang and the associated relocation of production to the foreign locations would otherwise not have been possible.” He also thanked the works council and the employees of S.M.A. Metalltechnik GmbH & Co. KG for their loyalty and commitment: “The workforce has made a significant contribution to not only stabilizing the company, but also leading it into a promising future. With the modernized production at the Backnang site and an adapted international production structure, the S.M.A. Group is well positioned to hold its own in the market in the long term.”
Insolvency administration S.M.A. Metalltechnik GmbH & Co. KG
GÖRG Partnerschaft von Rechtsanwälten mbB
Dr. Holger Leichtle (Partner, Insolvency Administration/Restructuring, Stuttgart)
Simone Kaldenbach (Partner, Insolvency Administration/Restructuring, Friedrichshafen)
Lucas Bendel (Associate, Insolvency Administration/Restructuring, Stuttgart)
Madeleine Ringendahl (Associate, Insolvency Administration/Restructuring, Friedrichshafen)
