Baker & McKenzie advised MAT Holdings, Inc. on the acquisition of the insolvent Präzisionstechnik Reichenbach. The automotive supplier filed for bankruptcy at the end of August 2013. The insolvency administrator lead the company through significant restructurings and was now able to win MAT Holdings, Inc. as investor.

The acquisition was structured as an asset deal together with the insolvency administrator. The purchase price was not disclosed. Baker & McKenzie advised MAT comprehensively on all contract negotiations.

"Acquisition out of insolvency no doubt brings certain risks - in this case in particular the company's site had to be relocated during ongoing business. Despite a minor delay, we were able to bring the transaction to a goal driven completion due to the tight and well-tuned collaboration with our client," commented Dr. Thomas Gilles, corporate partner at Baker & McKenzie in Frankfurt.

MAT Holdings, Inc., Headquartered in Long Grove, Illinois, was founded in 1984 under the name Midwest Air Technologies Inc. Today, the company owns six subsidiaries in the US and twelve subsidiaries in Europe. With a total of approximately 13,000 employees, MAT Holdings, Inc. produces safety castings made out of spheroidal graphite iron for the passenger and truck industry. The company has long years of experience and expertise in the fields of brake components, chassis and powertrain and particular expertise in manufacturing technology, process organization and testing technology. MAT Holdings Inc. holds manufacturing and sales facilities in Asia, Europe and the United States.

The Baker & McKenzie Corporate/M&A teams advise clients in cross-border transactions and reorganizations on a regular basis. Most recently, e.g., Baker & McKenzie provided advice to HITACHI KOKI on its acquisition of the power tool specialist Metabo AG Barry-Wehmiller Group on the acquisition of Winkler+Dünnebier GmbH, to ZF Friedrichshafen AG on the acquisition of the industrial and wind turbine business of Bosch Rexroth AG, Group Le Duff on the acquisition of Kamps, Telefónica/E-Plus on the sale of yourfone to Drillisch, Flowserve Corporation on the acquisition of the SIHI Group, and Hochtief on the sale of the property management business to vincitag and the offshore business to GeoSea.

Legal advisor MAT Holdings:              

Baker & McKenzie

Lead:                                                  

Corporate: Dr. Thomas Gilles (partner, Frankfurt)

Further team:                                       

Corporate: Christian Atzler (partner, Frankfurt), Dr. Holger Ellers (partner, Berlin), Markus Mörtel, (associate, Frankfurt), Anna Ma (associate, Frankfurt), Rebecka Zinser (associate, Frankfurt).

Arbeitsrecht: Dr. Hagen Köckeritz (partner, Frankfurt), Ulrike Bischof (associate, Frankfurt).

Trade & Commerce: Dr. Johannes Teichmann (partner, Frankfurt), Joachim Fröhlich (counsel, Munich).

IT: Dr. Holger Lutz (partner, Frankfurt), Dr. Michaela Weigl (associate, Frankfurt).

Antitrust: Christian Horstkotte (partner, Dusseldorf), Dr. Solvei Stender (associate, Dusseldorf).

Tax: Ariane Schaaf (associate, Frankfurt), Benjamin Bergau (associate, Frankfurt).