GÖRG accompanies the takeover of the insolvent Knapheide Group by HANSA-FLEX in self -administration

Bremen/Hamburg, 10.03.2023

The Knapheide group of companies based in Beckum (NRW) is being taken over by hydraulics specialist HANSA-FLEX AG in the form of a strategic investment. The takeover marks a significant milestone in Knapheide's insolvency proceedings, which are being managed in selfadministration by GÖRG partners Prof. Dr. Gerrit Hölzle and Dr. Thorsten Bieg as Chief Restructuring Officers. All jobs in the acquired business segments of the group of companies will be retained. For the only business segment not taken over, conveyor belts, the selfadministration is still conducting promising negotiations.

The Knapheide group of companies is a manufacturer and supplier of hydraulic sys tems for wellknown German machine manufacturers and employs around 400 people at its sites in Beckum and Kaltenkirchen.

Due to disruptions in the global supply chains as well as price increases in energy costs, Knapheide was forced to file for insolvency proceedings with the competent local court in Bielefeld in November 2022. The reorganisation proceedings in self -administration were opened on 1 February 2023 for Knapheide GmbH Hydraulik-Systeme and three other companies in the group. The restructuring experts Prof. Dr. Gerrit Hölzle and Dr. Thorsten Bieg have been appointed to the management of Knapheide as Chief Restructuring Officers (CRO). Their team includes the other GÖRG partners Dr. Mike Westkamp and Stefan Liese. Together with the court-appointed trustee, lawyer Stephan Michels of MICHELS Vorast Insolvenzverwaltung, they have successfully continued the company's business operations to date and made the transaction possible.

Take-over by HANSA-FLEX

A strategic investor has now been found as part of a structured M&A process that was initiated immediately: The globally active hydraulics specialist HANSA-FLEX is taking over all four companies of the Knapheide Group (with the exception of the conveyor belts business unit). The group's business operations will be continued in full at the respective locations, and all jobs will be retained. The transaction team of WAYES, led by Michael Rabe, was entrusted with the execution of the demanding investor process and successfully completed the process within the given time frame of three months.

"We are very pleased that we have found such an excellent solution with the takeover - both for Knapheide's creditors and for the companies and, of course,  above all for the employees. The trusting and productive cooperation between the self -administration and trustee Stephan Michels and his colleague Marcus Vorast made the success in this form possible in the first place," said the two Chief Restructuring Officers Prof. Dr. Gerrit Hölzle and Dr. Thorsten Bieg.


GÖRG Insolvenzverwaltung Partnerschaft von Rechtsanwälten mbB
Dr. Thorsten Bieg (CRO, Partner, Restructuring, Hamburg)
Prof. Dr. habil. Gerrit Hölzle (CRO, Partner, Insolvency Law, Bremen/Hanover)
Dr. Mike Westkamp (Partner, Insolvency Law, Wuppertal)
Stefan Liese (Partner, Insolvency Law, Hanover)


MICHELS Vorast Insolvency Administration GbR
Stephan Michels (Trustee, Partner, Münster)
Michels Vorast, LL.M. (Partner, Münster)

M&A process

Michael Rabe (Associate Partner, Hanover)
Hendrik Leigers (Manager, Oldenburg)

GÖRG Partnerschaft von Rechtsanwälten mbB
Dr. Karl-Friedrich Curtze (Partner, M&A, Contractual Processing, Restructuring, Hamburg)
Wanja Postel (Associate, M&A, Restructuring, Hamburg)

About Knapheide

Knapheide, based in Beckum (North Rhine-Westphalia), has been a renowned manufacturer of highquality
hydraulic systems and supplier to well -known customers in the fields of mechanical
engineering and industry (including manufacturers of earthmoving machinery, agricultural machinery,
forklift trucks) for decades. Both companies (KST, KHS) employ approx. 400 people. Most recently, an
annual turnover of approx. € 72 million was achieved.


HANSA-FLEX AG, founded in Bremen in 1962, is Europe's leading systems supplier for all aspects of
fluid technology. The principle of success is called system partnership. Starting out as a spare parts
supplier for hydraulic hose assemblies, HANSA-FLEX has transformed itself in 60 years into one of
the leading system providers in the field of hydraulics and pneumatics. With over 459 branches and
401 service vehicles in 41 countries, HANSA-FLEX is a global player serving over 150,000 customers
worldwide. Its products and services range from simple hose lines to engineering, power unit
construction, cylinder repair and prototype planning advice. More than 4,500 employees worldwide
generated a consolidated turnover of 575 million euros in 2022.

 Newsletter Icon

We inform you about current legal developments in the areas relevant to you.

Subscribe to our Newsletter


Einige der von uns gesetzten Cookies dienen dazu, bestimmte Funktionen unserer Webseiten zu ermöglichen, insbesondere zur Steuerung des Cookie-Banners (damit dieses bei Ihren erneuten Besuchen nicht immer wieder angezeigt wird). Diese Cookies enthalten keine personenbezogenen Daten, insbesondere nicht Ihre IP-Adresse. Andere Cookies, die zu Analysezwecken gesetzt werden (siehe hierzu auch den Abschnitt „Web-Analyse-Tools“), helfen uns zu verstehen, wie Besucher mit unseren Webseiten interagieren. Diese Cookies dienen dazu, die Nutzung unserer Webseiten statistisch zu erfassen und zum Zwecke der Optimierung unseres Angebotes auszuwerten. Die Analyse-Cookies werden bis zu 13 Monate gespeichert.

Save Cancel OK Deny tracking Privacy policy