PLUTA restructuring experts Fritz Zanker and Steffen Beck achieve solution for the RPM Rüster Group

Insolvency administrators Mr Fritz Zanker, an attorney and tax consultant, and Mr Steffen Beck, an attorney for general law and a specialist attorney for insolvency law, from PLUTA Rechtsanwalts GmbH have found a follow-up solution for the RPM Rüster Group from Deggingen. The buyers are two newly established subsidiaries of the Navigator Group, a medium-sized, owner-managed holding company based in Munich. Around 50 employees will be kept on. The purchase agreements have been signed, effective 1 July 2021. The parties involved have agreed not to disclose the purchase price.

Rüster Präzisionstechnik GmbH & Co. KG and sister company RPM Rüster Technologie GmbH had to file for insolvency on 1 October 2020 due to imminent liquidity problems. Both proceedings were opened in late December 2020. The Local Court of Göppingen appointed Mr Fritz Zanker as insolvency administrator for Rüster Präzisionstechnik. His PLUTA colleague Mr Steffen Beck is the insolvency administrator for RPM Rüster Technologie. Both companies have been working closely together for many years. The Rüster Group offers a wide range of services in the area of forming technology and precision machining. Many of its customers are in the automotive or mechanical engineering sector.

The long-standing company has a well-qualified workforce and innovative products. In recent months, the PLUTA team worked together with management to keep the business running without restrictions. Necessary restructuring measures were implemented, including extensive job cuts affecting some 30 staff. Cooperation with the trade union and works council members was highly constructive throughout all phases. Customers stayed loyal to the Rüster Group and received their deliveries as usual. The employees showed great commitment, thus playing a significant role in the successful outcome. The insolvency administrators conducted the process of finding an investor over recent months, with the Navigator Group ultimately prevailing. The team at SGP Schneider Geiwitz Corporate Finance supported the M&A process.

PLUTA restructuring expert Mr Zanker said, “We have been able to find the best possible solution for the Group and its employees. The creditors will also benefit from this.” In addition to insolvency administrators Mr Zanker and Mr Beck, the PLUTA team also included Mr Stefan Warmuth, a business management expert, attorney and tax consultant.

Dr Jochen Brinkmann, managing partner of the Navigator Group, said, “We have invested in Rüster for several reasons. The company’s products and quality have proven themselves in the market, and we too have been convinced. The employees’ expertise and terrific attitude is another important factor. They are obviously loyal to the company and enjoy working together. These are the perfect conditions for a fresh start, which the PLUTA team has made possible. We will lead the company into a successful future.”

The Rüster Group’s origins date back to 1949, when it was founded as a stamping operation for manufacturing plates for the textile machinery industry. Given the high technical demands, the business introduced precision stamping technology in the seventies. After that, it began supplying the automotive sector. With its highly qualified workforce, it offers a wide range of services for all kinds of applications today.

About PLUTA
PLUTA helps companies in legally and economically difficult situations. Since the company was founded in 1982, PLUTA has constantly grown and today has a staff of approximately 500 employees in Germany, Spain and Italy. More than 290 business and management experts, attorneys, business lawyers, tax consultants, public auditors, certified accountants, economists, banking and bookkeeping experts, engineers and insolvency administration specialists, many with multiple qualifications, ensure practicable and economically sound solutions. In particular, PLUTA provides support in restructuring companies affected by a crisis or insolvency and in continuing business operations, if necessary by involving restructuring experts in a responsible role. PLUTA is one of the top enterprises specialising in restructuring and turning around companies, as demonstrated by rankings and awards from INDat, JUVE, The Legal 500, Who’s Who Legal, brand eins and Focus. Further information at www.pluta.net.

About the Navigator Group
The Navigator Group is an owner-managed industrial holding company that has been acquiring and developing medium-sized companies since 2016. It typically engages in spin-offs from larger entities that are no longer part of core business and companies facing a follow-up situation or undergoing a restructuring process. With its long-term investment horizon, its primary aim is to strengthen the Group’s companies through targeted measures. This includes acquiring complementary companies. Founders and owners Mr Christian Muschick and Dr Jochen Brinkmann guide the fortunes of the Group with investments in the areas of precision cutting, packaging machines, tool making, plastic injection moulding, media and safety technology. Further information at www.navigator-group.eu.