ARQIS has advised two family groups on the purchase of two plants of the insolvent Thurn Produkte GmbH.They take over Thurn’s plants in Neunkirchen as well as in Kerkrade and continue the production of washing and cleaning powders under the new name Thurn Germany. The seller is Dirk Obermüller, insolvency administrator and partner of the consulting company dhpg.
The new owners save 140 jobs and plan to target ‘private labels’ which are developed and distributed by discounters, retailers and drugstores in their own name. Thurn, for example, already supplies the discounter ALDI with the detergent Tandil.
In September 2017, the Thurn Group had to file for insolvency. Immediately afterwards, a structured, international investor process was initiated. For the plant in Greven, Quantum Capital Partners was already a new investor at the beginning of the year. The location Much remains closed.
ARQIS has previously advised one of the families behind Thurn Germany on a transaction involving private equity.
Advisors to the families
ARQIS Rechtsanwälte (Düsseldorf): Dr. Jörn-Christian Schulze (Corporate/M&A), Johannes Landry (insolvency law; both lead), Dr. Tobias Brors (labour law), Dr. Ulrich Lienhard; Associate: Jennifer Danisch (both real estate)