The business operations of the former Arlington Germany GmbH will be transferred to the newly formed Thermal Management Solutions Group as part of a restructuring of the company. The takeover will secure the majority of the current 280 jobs at the Oberboihingen (BW) site. Insolvency expert Dr. Holger Leichtle, GÖRG Partnerschaft von Rechtsanwälten mbB, successfully accompanied the search for investors and the sale process as trustee of Arlington Germany GmbH.
After the Swabian automotive supplier had already filed for insolvency in self-administration in March 2020, the business operations and the corresponding assets were now transferred to the new company Thermal Management Solutions DE Oberboihingen GmbH as part of an asset deal. The restructuring was led by the law firm Gerloff Liebler, with EY and Dentons providing transaction advice.
The newly formed Thermal Management Solutions Group belongs to the US financial investor Cartesian Capital Group and manufactures thermostats for automobiles and industrial applications. The group will employ more than 800 people at production sites in Germany, Brazil, China, France, Great Britain and the USA. It emerged from the former Arlington Group after the German company and its British parent company went through insolvency proceedings.
GÖRG partner and trustee Dr. Holger Leichtle: "We are very happy that we have found a good solution which secures the future of the location in Oberboihingen in the long term and at the same time preserves the majority of the jobs. This success was only possible thanks to the excellent and efficient cooperation between the self-administration team, M&A advisors, as well as the customers and suppliers and, of course, the employees of Arlington Germany. We can only thank everyone involved for their outstanding teamwork."
Advisors Arlington Germany GmbH
GÖRG Rechtsanwälte/Insolvenzverwalter GbR
Dr. Holger Leichtle, Partner, Trustee, Insolvency Law, Frankfurt am Main / Stuttgart / Friedrichshafen
Fiona Feith, Associate, Insolvency Law, Stuttgart
Gerloff Liebler Rechtsanwälte
Christian Stoffler, Chief Restructuring Officer (CRO)
Dr. Christian Schmitt, General Representative
Christian Rogner, Labour
Timo Mauch, Commercial Law / Suppliers
Ernst & Young
Stephan Hellmann, M&A
Dr. Daniel Blum, M&A
Alan Khalaf, M&A
Falk Schnurbusch, Turnaround and Restructuring Strategy
M&A / Insolvency Law Advice
Dr. Arne Friel
Dr. Giannina Kreutz
Dr. Holger Ellers
Dr. Jan Seelinger
Coordination on insolvency proceedings in the United Kingdom
Dr. Christian Hilpert