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Schilling, Zutt & Anschütz advises Nolte Group on the Carve Out of its Subgroup Nolte Furniture

News Press Release Restructuring - 


Schilling, Zutt & Anschütz advises Nolte GmbH & Co. KGaA on the carve out of its subgroup Nolte Furniture. The seven companies based in Germersheim, Rhineland Palatinate (comprising Nolte Möbel GmbH & Co. KG, Express Möbel GmbH & Co. KG, Express Möbel Geschäftsführungsgesellschaft mbH, Nolte Geschäftsführungsgesellschaft mbH, Rhein Logistik GmbH, Nolte Service GmbH and Nolte Mobel (UK) Ldt.), will be transferred to a newly founded holding company in a share deal. Georg Nolte (Sr) and Nolte Furniture's current CEO Oliver Bialowons each hold half of the shares in Nolte Möbel Industrie Holding GmbH, which will be based in Germersheim.

he companies belonging to Nolte Furniture have been amongst the most relevant manufacturers of wardrobes and bedroom furniture ranges for over 60 years and employ some 500 people. In the course of the transaction, their debts will be cleared and they will be financially restructured in order to pave the way for the further development of this business segment.

Now in the hands of the fourth generation and run as a family business, Nolte Group is a furniture manufacturer and previously consisted of wardrobe manufacturer DRUM as well as Nolte Kitchen and Nolte Furniture. Last year, the group's revenue was at EUR 580 million. In future, Nolte GmbH & Co. KGaA intends to strengthen its focus on Nolte Kitchen.

SZA has provided comprehensive advice to Nolte Group in connection with the structuring and negotiation of the contractual documentation regarding the carve out of Nolte Furniture, the negotiations with Nolte Group's lenders, the refinancing of Nolte Furniture's companies and the structuring of newly founded Nolte Möbel Industrie Holding GmbH. SZA's legal team included partners Dr. Stephan Brandes (Corporate/M&A, lead) and Dr. Thomas Nägele (IP/IT), counsels Dr. Andreas Herr (Financing) and Dr. Stephanie Birmanns (competition law) as well as associates Ela Rabenau (Corporate/M&A), Dr. Simon Apel and Dr. Alexander Stolz (IP/IT).

SZA Schilling, Zutt & Anschütz Rechtsanwaltsgesellschaft mbH

Schilling, Zutt & Anschütz has been one of the most respected German business law firms for almost one century. With approximately 100 lawyers and offices in Frankfurt, Mannheim, Munich, and Brussels, the firm advises national and international clients on complex legal issues arising in business, in particular in the areas of corporate law, M&A, compliance, capital markets, real estate, insolvency, employment law, antitrust, intellectual property, litigation, tax, private clients and public law.

 

FILES:
20-09-10_Press_Release_Nolte_Kitchen.pdf 318 KB