Distressed M&A: Luther advises the Italian cooperation partners Diesse Holding and EsseEmme Tecno on the acquisition of braiding machine production assets from the insolvent Mayer & Cie.

With the help of Luther Rechtsanwaltsgesellschaft, the Italian cooperation partners Diesse Holding and EsseEmme Tecno successfully prevailed in the bidding process for Mayer Cie.'s braiding machine technology. Diesse Holding had previously relied directly on the expertise of its supplier Mayer Cie. With the support of Diesse Holding as financing partner, EsseEmme Tecno has secured high-quality technological expertise and equipment to extend its own value and supply chain.

For EsseEmme Tecno, the acquisition opens up the possibility of expanding its technological product range and performance capabilities by incorporating proven design and production standards, as well as the opportunity to develop customer relationships from a globally recognised product portfolio. 

The acquisition from self-administration required close coordination with the debtor's organs and the stakeholders involved. Luther advised the buyers on all legal aspects of the asset deal, including structuring, legal due diligence, contract negotiation and drafting, and insolvency law issues relating to the acquisition from self-administration. In addition, labour, IP/IT and VAT issues were dealt with in an integrated manner to ensure a swift and legally secure completion of the acquisition. The multilingual contract negotiations – in German, English and Italian – were coordinated by Luther's Italy Desk and translated into enforceable documentation.

"Without the truly outstanding negotiation skills of the members of Luther's Italian team, who supported us in every respect and – not to be forgotten – in three languages, we would not have been able to bring this complicated transaction to a successful conclusion," says Heleanna de Stasio, CEO of Diesse Holding.

About Mayer & Cie.

Mayer & Cie. GmbH & Co. KG, based in Albstadt (Baden-Württemberg), is part of the Mayer & Cie Group, a leading global supplier of circular knitting machines and a developer, manufacturer and supplier of braiding machines. On 22 September 2025, the company filed for insolvency proceedings under its own administration. By order of the insolvency court on 1 December 2025, insolvency proceedings were opened against the company's assets and self-administration was ordered.

About Diesse Holding and EsseEmme Tecno

Diesse Holding S.p.A., based in Bergamo (Italy), which acted as a financing partner in this case, is considered a global leader in the manufacture and marketing of rubber hoses through its subsidiary Diesse Rubber Hoses S.p.A. that  is a long-standing customer of Mayer & Cie. EsseEmme Tecno S.r.l., based in Scerne di Pineto (Italy), a renowned Italian mechanical engineering company focusing on the development and manufacture of specialised machine and plant technology, will use the acquired technology to become one of the world's leading manufacturers in the demanding market segment of braiding machines, thereby significantly expanding its own product portfolio.

For Diesse Holding and EsseEmme Tecno

Luther, Corporate/M&A: Dr Eckart Petzold (lead, partner), Wolfgang Liebau (counsel), Simon Wickel (associate)

Luther, Restructuring & Insolvency: Gunnar Mueller-Henneberg (partner), Salvatore Calcagno (counsel)

Luther, Employment Law: Hans-Christian Ackermann (partner)

Luther, Intellectual Property & Copyright: Dr Detlef Mäder (partner), Franziska Maier, LL.M. (associate)

Luther, Tax Law: Ulrich Siegemund (partner), Ramona Hubracht, LL.M. (counsel)

Mayer & Cie. was advised by GRUB BRUGGER Partnerschaft von Rechtsanwälten mbB.