Investor secured for Gilne precast concrete plants

By order dated 29 January 2025, the Local Court of Münster ordered debtor-in-possession insolvency administration for the assets of Gilne GmbH. A continuation solution was quickly developed and implemented within a structured transaction process. The assets of Gilne GmbH have been acquired by the fdu Group by way of an asset deal. The business will continue to operate without interruption and to reliably serve its customers.

Gilne GmbH filed for insolvency due to a decline in demand in the construction industry caused by adverse economic conditions, which led to a dip in sales, combined with a significant increase in procurement costs. This resulted in an earnings crisis and then ultimately a liquidity crunch. By filing for debtor-in-possession insolvency, management has been able to keep the business operating while working on a sustainable continuation solution with the strategic partner that has now been found. A large number of the company’s jobs have been saved in the process.

Founded in 1968, Gilne GmbH operates a precast concrete plant in Mettingen and another in Uffeln. It specialises in the manufacture of precast stairs. Its product range includes straight, winder, spiral and folded stairs, precast landings, balconies, architectural components and bespoke solutions. According to its most recent financial statements, the company generated approximately 22 million euros in annual turnover. Its products are sold across Germany and in neighbouring European markets.

The buyer, fdu GmbH & Co. KG, is one of Germany’s leading manufacturers of precast ceilings and walls as well as bespoke steel-reinforced components. Founded in 1980, the company headquartered in Georgsmarienhütte employs around 900 people at 35 locations. The acquisition represents a strategic expansion of its existing product range and also strengthens its market position in the precast concrete stairs segment.

The transaction was successfully concluded thanks to the close collaboration of all involved. The structured implementation within the debtor-in-possession proceedings demonstrates that long-term solutions can still be achieved for midsize industrial companies despite difficult market conditions. A sustainable way forward has been found for Gilne GmbH now that fdu GmbH & Co. KG has come on board.

Managing directors Mr Thomas Gilhaus and Mr Matthias Neyer:
“We have taken an important step towards achieving stable, forward-looking business growth with the seamless transition to Gilne Betonfertigteile GmbH under the umbrella of fdu, effective 1 June 2025. With this strong partner by our side, we are facing the future with renewed strength and a clear focus.”

Mr Eric Coordes from corporate law firm MÖNIG Wirtschaftskanzlei:
“The debtor-in-possession proceedings made it possible to keep the business stable while implementing a viable investor solution. This has ensured the continued operation of the sites and the retention of jobs.”

Insolvency monitor Dr Ria Brüninghoff from PLUTA Rechtsanwalts GmbH:
“The constructive cooperation between all involved has contributed in a significant way to the successful completion of the restructuring within a short space of time and to securing Gilne GmbH’s long-term future.”

Debtor-in-possession management: MÖNIG Wirtschaftskanzlei – Mr Eric Coordes
Insolvency monitoring: PLUTA Rechtsanwalts GmbH – Dr Ria Brüninghoff, Mr Tim Austmeyer, Mr Jan-Philipp Meyer
Business management support: PSM Management GmbH – Mr Christian Plückebaum, Mr Lukas Holzapfel
Company law structuring: Florett & Falke Rechtsanwaltsgesellschaft mbH – Mr Maximilian Pape, Mr Albert Kochs
M&A: GO & Company – Mr Daniel Grube, Mr Frederik Olms, Mr Christoph Bosbach, Mr Maxim End, Ms Marie Ziegler