BBL advised on the acquisition of airberlin technik

25. Januar 2018

Berlin, 25 January 2018. Peter Jark advised the NAYAK Group on the acquisition of airberlin technik. As part of the airberlin Group’s insolvency proceedings, an application was filed on August 15 2017 to open insolvency proceedings over the assets of airberlin technik in self-administration under its own management. Prof. Dr. Lucas Flöther of the insolvency administration firm Flöther & Wissing was appointed as trustee. At its remaining five locations, the company mainly provided maintenance services for the airberlin Group’s aircraft fleet. With approximately 1,000 employees, airberlin technik was one of the three largest maintenance providers in Germany. The sale process was significantly influenced by the continued existence of the airberlin fleet due to its dependence on capacity utilization.

The transaction as an asset deal could only be achieved through a substantial reorganization. In addition to various restructuring measures, a social selection process with reconciliation of interests was carried out in the shortest possible time, and a transfer company was set up for approx. 70% of the employees and a new agreement with the employees’ union was negotiated. Such a positive result could only be achieved by a very close and solution-oriented approach of all participants. The takeover thus secures approx. 30% of the jobs of airberlin technik.

The NAYAK Group, which is now the largest airline-independent maintenance service provider in Europe, acquired the assets.

„The preservation of approximately 300 jobs and the continuous maintenance of the airberlin fleet is a major achievement of all those involved, especially the employees. I would like to express my sincere thanks to all those involved“, Dr. Frank Kebekus is quoted as the general representative and advisor to the management in self-administration.

„With the sale of the business, we have succeeded in finding the optimum solution for the creditors“, explained the trustee Prof. Dr. Lucas Flöther.

Dr. Boris Liffers, Managing Director of NAYAK, is very pleased with the successful purchase: „By acquiring airberlin technik, NAYAK is able to consolidate and expand its position as the largest airline-independent maintenance company in Europe. The expansion of our capacities, especially in Germany, improves our competitiveness and opens up important business areas.“

Peter Jark of BBL also commented: „Following NAYAK, we were able to conclude another transaction in the aviation maintenance operations business for the benefit of all parties involved. The challenges posed by the various insolvency proceedings and the extremely tight timeframe could only be overcome through the solid experience of the participants and their pragmatic approach. A decent portion of trust is always part of it.“

Consultant NAYAK (buyer)
Peter Jark (Lawyer – Corporate) BBL Bernsau Brockdorff & Partner
Dr. Marcus Richter (Lawyer – Labour Law) GÖRG Attorneys at Law
Sven Peters (Financial Advisor) Centuros GmbH

Kebekus et Zimmermann

Dr. Frank Kebekus (Lawyer)
Frank Schwarzer (Lawyer)
Tobias Frommhold (Lawyer – Labour Law)

Freshfields Bruckhaus Deringer LLP
Dr. Stephan Reemts (Lawyer – Corporate)
Dr. Lennart Schramm (Lawyer – Corporate)

Flöther & Wissing Attorneys at Law

Prof. Dr. Lucas F. Flöther (administrator)

Consultant M&A (seller)
Falkensteg GmbH

Tillmann Peeters (Partner)
Johannes v. Neumann-Cosel (Partner)
Georg Verschuer (Associate)

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