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Dr Stephan Thiemann from PLUTA Rechtsanwalts GmbH has succeeded in finding an investor for WPM Werkstoffprüfsysteme Leipzig GmbH, a producer of testing machines. The restructuring expert sold the company to Kögel Werkstoff- und Materialprüfsysteme GmbH, which has taken over the business operations with effect from 1 December 2019.
PLUTA restructuring expert Dr Thiemann expressed his satisfaction with the sale, saying “We have kept the business going and have been able to find a strategic investor for this long-established company within four months. All twelve employees will be kept on.” This means that the business of the company, which arose from a craft business founded in 1881, will be preserved. The corresponding purchase agreement has already been signed by the persons responsible, who have agreed to maintain confidentiality about the purchase price. Alongside Dr Thiemann, the PLUTA team also included Mr Gerd Kämpfe.
Ralf Kögel, Managing Director of Kögel Werkstoff- und Materialprüfsysteme, said, “We are pleased about the fact that we had the opportunity to acquire this company. WPM is an innovative company and has many years of experience and a lot of know-how in test technology. This acquisition allows us to extend both our know-how and our customer base.”
Kögel Werkstoff- und Materialprüfsysteme GmbH, founded in 1957, produces testing machines and devices for a wide variety of applications. Moreover, as an independent accredited calibration laboratory, this company based in Leipzig also maintains, repairs and upgrades testing machines, scales and other test equipment.
Business operations maintained without restriction
WPM Werkstoffprüfsysteme Leipzig GmbH filed for insolvency in August 2019. On 1 October 2019, the Local Court of Leipzig opened the proceedings and appointed the attorney Dr Stephan Thiemann as the insolvency administrator. He has kept the business going without restrictions over the past few months.
WPM Werkstoffprüfsysteme Leipzig GmbH specialises in the development and manufacture of testing and measuring machines, mainly for the analysis of materials and components. The company’s testing machines are used by well-known manufacturers from a wide variety of industries to improve their products continuously and to ensure that they will have a long service life. In particular, WPM has vast experience in the field of special testing machines for the automotive, aviation, railway and construction sectors. Their customer base includes both German and international companies.