The insolvent Targomo GmbH is taken over by the real estate platform Casafari: GÖRG partner Prof. Dr. Torsten Martini, Targomo's provisional insolvency administrator, was able to successfully sell the Berlin-based company's entire business operations, including all employees, as part of an M&A process.
Following Targomo GmbH's application to the competent local court in Berlin to open insolvency proceedings over its own assets, Prof. Dr. Torsten Martini was appointed provisional insolvency administrator by order dated 26 June 2023. The Berlin-based company, founded in 2013, is a developer and operator of AI-based software that assesses the quality of locations for a wide range of use cases and generates location-specific sales forecasts for customers.
As part of an extensive M&A process, which was managed by lawyer Martin J. Neumann of Saxenhammer Advisory GmbH, a buyer for Targomo's business operations was found in the form of the proptech company Casafari. After receiving takeover offers from several interested parties, the insolvency administrator decided on the best offer in the interests of the creditors and signed the purchase agreement. Thus, despite adverse circumstances, Prof. Dr. Martini succeeded in enabling a transfer already within the application procedure and thus securing the continuation of the business with all employees.
Insolvency Administration Targomo GmbH
GÖRG Insolvenzverwaltung Partnerschaft von Rechtsanwälten mbB
Prof. Dr. Torsten Martini (Provisional Insolvency Administrator, Partner, Berlin)
Nico Reisener, LL.M. (Employed Professional, Restructuring, Berlin)
Advisor Insolvency Administration
Saxenhammer Advisory GmbH
Martin J. Neumann (M&A)
Bird & Bird LLP
Marianne Nawroth (Corporate/M&A)