In a deal completed on 17th August the administrator has sold the assets of the insolvent Max Mothes GmbH to Schuering & Andreas. Mothes had continued to trade during the preliminary insolvency proceedings, which started four months ago, and the company is said to have maintained intensive communication with more than 4,000 customers to help stabilise the business.

Most of the company's 230 employees will transfer to the new Max Mothes. The site in Neuss, which houses both a distribution centre and manufacturing facility for special fasteners, will be retained. The purchase price and detailed terms of the deal have not been released. Max Mothes had sales of around 42 million euros in 2010 and carries more than 80,000 stock lines.

In a competitive bidding process Schuering & Andreas was identified by Kebekus & Zimmermann as the investor with "the best continuation and strategy concept" for the business. "Schuering & Andreas are known as turnaround-experts, having repeatedly bought insolvent companies and developed them as profitable enterprises with their long-term investment horizon,” says insolvency administrator Dr. Frank Kebekus.

Schuering & Andreas is a group of entrepreneurs active in four companies with 13 production facilities, around 1,100 employees and an annual turnover of around 150 million euros. The group acquired Honsel Unformtechnik from administration in 2002 and also owns VVG Befestigungstechnik GmbH & Co. A number of other group companies in differing market sectors were acquired from administration or were the result of buy and build or growth financing strategies. The group says the goal of its investments "is the preservation and/or creation of independent enterprise units, characterised by a futurable market position and a lasting yield capacity.” It is committed to operating successful industrial production in Germany with "lean structures and costs, efficiency, quality and innovative products".

About Max Mothes GmbH
Max Mothes GmbH was founded in 1918 and is family-lead since 5 generations. After experiencing more than 90 years’ development, Max Mothes become one leading provider for mechanical fasteners in Europe. It focused on trading with screws, nuts and fasteners of all kinds after World War 1. In 1921 it was expanded by a manufacturing site. In 1953, it could serve its customers with more than 20,000 different items. With the relocation of stock capacities to Neuss-Uedesheim (near Dusseldorf) in 1993, Max Mothes were able to increase its readiness for delivery considerably. Today Max Mothes can ensure the permanent availability of more than 90,000 items. In its corporate production with the latest machinery Max Mothes additionally manufacture customized screws and designed components according to customers’ demands. Max Mothes supplement trading assortment with items from special single parts up to mid-sized series and therefore offer customers a broad assortment and unconditional quality from one hand.