Deal Announcement 08/23: Automotive

The Deal

The PwC M&A team is pleased to announce the successful sale of Regensburger Druckgußwerk Wolf GmbH and its subsidiaries Prec-Cast Kft. and Prec-Cast Zhongshan Co., Ltd (together “Firmengruppe Wolf") to private investors. Due to rising energy prices and a slowdown in market demand, Firmengruppe Wolf had to file for insolvency in September 2022. Dr. Hupert Ampferl (Dr. Beck & Partner) was appointed as (preliminary) insolvency administrator by the local court and immediately initiated a structured, international sale process which was led by PwC M&A. In the course of the investor process the operating business and major assets of Firmengruppe Wolf in Germany, Hungary and China were sold to private local investors. All 1,640 employees were taken over to the newly established Wolf Industries GmbH.

The transaction was structured as a combination of asset and share deals and was closed in August 2023..

Firmengruppe Wolf

Firmengruppe Wolf, headquartered in Regensburg, is specialized in the manufacturing of high- quality aluminum die-cast products and mainly supplies the automotive industry. The company also manufactures products for larger industrial clients and farming equipment manufacturers. In recent years, Firmengruppe Wolf generated revenues of approx. €140m.

Dr. Beck & Partner

Attorney at law Dr. Hubert Ampferl is a partner of the law firm Dr. Beck & Partner GbR. As an insolvency administrator he specializes in the restructuring and reorganization of companies.

PwC

The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 364,000 employees in 152 countries (“global PwC-Network. Our global network comprises over 3,700 deal professionals all over the world, realising approx. 700 successful transactions per year. Our Distressed M&A team led by Timo Klees (Partner) is market leading in Germany and has successfully advised on more than 80 transactions out of special situations and insolvency situations in recent years. Latest transactions include among others Compleo, Prophete, IBEO, Ludwig Pfeiffer, Lechner, scanplus, Nobiskrug, Aluminium Rheinfelden, Poggenpohl, Dradura, Fintyre, Thomas Cook and Vapiano.

The transaction was led by Timo Klees (Partner), Fabian Dalka (Director) and Julius Karp (Manager).