PLUTA restructuring expert Steffen Beck finds investor for X-ray system manufacturer PROTEC

Insolvency administrator Mr Steffen Beck from PLUTA Rechtsanwalts GmbH has good news to announce for medtech manufacturer PROTEC GmbH & Co. KG based in Oberstenfeld, near Heilbronn: the PLUTA restructuring expert has succeeded in securing an investor as part of the insolvency proceedings. The notarial purchase agreement was signed in mid-June. Now that all closing conditions have been satisfied, the transaction has been completed. The transfer of beneficial ownership will take place on 1 July 2025.

Newly founded PROTEC X-ray Systems GmbH, a company of Reinsberg Group based in the Czech Republic, has acquired the business and retained all 30 or so employees. Reinsberg Group already encompasses multiple European companies dedicated to delivering high-quality healthcare solutions. Under the unified umbrella brand, it manages businesses such as medifa in Germany, the UK-based Brandon Medical and both FAMED Zywiec and ALVO Medical in Poland. Reinsberg Group is the medtech holding of investment firm BHM group.

Business operations maintained for around ten months

PROTEC GmbH & Co. KG has been involved in insolvency proceedings since 2 September 2024. The company filed an application with the Local Court of Heilbronn at an early stage, at which point Mr Steffen Beck from PLUTA was appointed provisional administrator. In early December 2024, the proceedings were opened and the PLUTA attorney was appointed regular administrator.

Despite having filed for insolvency, the manufacturer of high-quality medical equipment continued to operate on a stable basis and all orders were dealt with as usual. Customers and suppliers remained loyal to the company. Important orders were also secured. In recent months, the company was able to win new business in Asia and South America in particular and maintain its market position despite the ongoing proceedings.

Having kept the business operating for around ten months during the proceedings, the PLUTA team has now achieved the ideal investor solution, delivering the best possible outcome for the parties involved. Attorney Mr Steffen Beck has been supported in the PLUTA restructuring team by attorney Dr Matthias Lehr and business lawyer Ms Ilayda Keskin-Akmaz (LL.M.).

Strategic portfolio expansion

“We have kept the business operating on a stable basis over a lengthy period – even in these tough economic times. The fact that we have now secured an investor is excellent news for the company, the workforce, the customers and the creditors,” said Mr Steffen Beck.

A structured process of finding an investor was initiated and implemented with purpose with support from M&A expert Mr Dirk Freiland of Clairfield International GmbH in Stuttgart. The solution has been implemented as a restructuring by way of an asset deal. The investor not only has the necessary capital strength but also specialist medtech expertise and is pursuing a focused growth strategy. Reinsberg Group already encompasses multiple European medtech manufacturers, providing the perfect foundation for synergies and cooperation.

The current PROTEC team will be kept on, ensuring continuity for customers and business partners. The company will operate under the name PROTEC X-ray Systems GmbH and a new legal form. Mr Frank Baisch, managing director of PROTEC, said about the acquisition: “With Reinsberg Group, we are pleased to have secured a strong and stable partner that shares our innovation and growth vision. This partnership will drive PROTEC’s strategic growth by enabling us to expand our product portfolio and strengthen our distribution presence. We believe there is considerable potential to build on our market position and offer our customers even more added value by leveraging combined expertise and synergies across the group.”

PROTEC has been active in the market since 1995 and has established itself internationally as a manufacturer of high-quality X-ray systems. Its product portfolio includes X-ray tables, analogue and fully digital X-ray systems and software solutions developed in-house. The company is ISO 9001 and EN ISO 13485 certified and supplies customers worldwide – supported by a network of international partners.