• Recovery & Insolvency, Reorganisation, Restructuring & Insolvency

  • Steel (Construction)

  • 2021

Leuteritz Anlagenbau GmbH: Dr Christian Heintze completes investment process for Leuteritz Anlagenbau GmbH

The arrangement of the provisional insolvency administration and appointment of Dr Christian Heintze as the provisional insolvency administrator took place in October 2021. Insolvency proceedings were opened almost two months later (and completed after just three months). The reasons for the proceedings included significant price increases at upstream suppliers that Leuteritz Anlagenbau could not pass on in full to its customers. The company was also the victim of a cyberattack, which together with the effects of the Corona pandemic, also played a part.

However, they were able to continue business operations while the search for an investor was initiated. The transfer to the new owner, the Medicke group of companies based in Saxony, took place on January 17, 2022, with an agreement in place not to disclose the purchase price. Fortunately, nearly all employees most of whom are specialists in the fields of steel construction and agricultural technology  were kept on by Medicke.