Acquisition
Henn Group acquires the business operations of Eisele
The Vorarlberg-based family business Henn Group acquires the business operations of Eisele and the US subsidiary Eisele Connetors Inc., thereby securing the future viability of the company.
At the end of August 2020, the management of Eisele filed an application with the Stuttgart district court to open insolvency proceedings. The effects of the coronavirus pandemic this year were considerable and ultimately led to the application for ongoing insolvency proceedings. Insolvency administrator Dr. Holger Leichtle from the nationwide law firm Görg Insolvenzverwalter immediately initiated a structured M&A process.
The takeover by the Vorarlberg-based family business, which is also active in the field of fastening technology, secures the future viability of Eisele and around 100 jobs at the Waiblingen site. The acquisition of the company ensures that both the operational business and the site in Waiblingen will be retained. With the Henn Group, Eisele is gaining a strong partner that will enable the company's know-how to be retained and combined with the expertise of the Henn Group. This mutual complementarity will enable both Eisele and the Henn Group to gain a foothold in new sectors and markets, thus positioning the company for a long-term and stable future.
The sale of the company is currently still subject to the proviso that the company headquarters in Lise-Meitner-Straße in Waiblingen is also sold. The property, for which an attractive purchase offer has already been made, is not part of the insolvency estate. For this reason, the cooperation of the current owner of the company property is still required. Once the sale of the property has been completed, Eisele's business operations can be transferred on March 1 and continued by the Henn Group.
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