PwC advises the insolvency administrator Dr. Hubert Ampferl on the sale of Lechner Group to Livos Group

The PwC M&A team advised the successful sale of Lechner Group to LIVOS Group.

Lechner is a leading producer of customized kitchen worktops and backwalls in the premium segment in Europe. The company is based in Rothenburg ob der Tauber (Bavaria) and operates an additional production site in Strömsnäbruk (Sweden). In 2021 Lechner generated net sales of about €86 million and employed approx. 600 people.

As a result of sharp raw material prices and logistics costs, Lechner had to file for insolvency in November 2021. Attorney at law Dr. Hubert Ampferl (Dr. Beck & Partner) was appointed as (preliminary) insolvency administrator by the local court. The insolvency administrator immediately initiated an international M&A process that has been led by the Distressed M&A experts of PwC.

PwC also supported Lechner in developing a restructuring concept and business plan which was the basis for the successful sale. Despite the very ambitious timeline PwC has been able to keep a fierce competition between several interested investors until the signing of the transaction. LIVOS finally convinced with the most attractive offer.

The transaction was structured as a combination of asset and share deals and will be effective from 1st of March 2022. Nearly all of the 600 employees in Rothenburg o.d.T. and Strömsnäsbruk will be taken over.
PwC advised the insolvency administrator with its in-depth distressed M&A expertise and supported Lechner in the preparation of a thorough business plan and restructuring concept.

Lechner
Lechner is a leading producer of customized kitchen worktops and backwalls in the premium segment in Europe. The company based in Rothenburg ob der Tauber was founded in 1974 and has two production sites in Germany and Sweden. Lechner's full-service offering includes not only a wide range of materials (glass, ceramics, Dekton, natural stone, quartz stone, solid wood, compact, laminate and solid surface) but also covers every step of the process from measurement to installation.

LIVOS
LIVOS Gruppe has been involved in the German SME sector for more than ten years. Starting with a clear focus on corporate real estate, combined transactions of real estate and operative business as well as separate transactions in both areas were realized. LIVOS has a long-term investment focus. LIVOS acts independently from banks and other anonymous capital collection agencies. LIVOS develops industrial sites together with the resident operating companies, giving the companies and the sites a long-term and sustainable perspective.