Family Business: Luther consults German family entrepreneur during the acquisition of gear motor manufacturer Bockwoldt
Succession plan for Hamburg-based company with long tradition // Family business returns to calmer waters after insolvency
Luther law firm has supported Lübeck-based entrepreneur, Johann W. von Eicken, during the acquisition of gear motor manufacturer Bockwoldt. His holding acquired the company in insolvency as per 01 April 2017 through an asset deal after Eicken had managed to beat several bidders in an investor process.
In the future, the restructured company will be managed by Johann W. von Eicken and Dr. Ing. Felix Oehme. The 75-year old senior partner, Johann W. von Eicken, who is more than twice as old as his junior partner, has found a new entrepreneurial challenge here: his former company has already been passed on to the next generation, but Johann W. von Eicken wants to stay active as an entrepreneur.
Background: The Oldesloe-based long-standing Bockwoldt company has become insolvent in early 2016 due to the insolvency of a supplier. Since then, it has undergone a self-administration process which ended in the company being sold without having to cut jobs.
By opting for self-administration, Bockwoldt had used the option to go into bankruptcy protection and restructure the company. Under the supervision of a solicitor and with the business-management and legal support of Buchalik Brömmekamp (Dusseldorf), the gear motor manufacturer this way, could be sustainably restructured and prepared for the recently performed sale.
The successful long-standing family business, established in Hamburg in 1914 by the engineer Carl Bockwoldt, is now present around the world. Bockwoldt develops and manufactures gears and gear motors as well as electronic control units. The company employs approximately 50 staff at its headquarters in Bad Oldesloe (Schleswig-Holstein, Germany).
Representing the Purchaser
Representing the Seller
Insolvency law: Robert Buchalik (Partner), Jan Oetzmann (all based in Dusseldorf)
Employment law: Michael Kothes (Dusseldorf)