The restructuring process at winch specialist BROEHL is now entering the next phase. After the company filed for insolvency on 11th May, 2018, the first priority of the preliminary insolvency administrator, Dr Ralf Bornemann, dhpg partner, was to successfully stabilise business operations. Now he has mandated the consultancy firm MENTOR AG with an international search for investors.
Dr Bornemann, attorney at law, dhpg partner and preliminary insolvency administrator in the proceedings commented: “The stated aim of all parties is the sustainable restructuring and in turn continuation of the company at its current location in Germany. In close consultation with the management, customers, creditors and the experienced core workforce, our restructuring plan sets forth the involvement of an investor aspiring to expand the business’s footprint geographically or in terms of its portfolio.”
Bernd Kulmus, Managing Director of BROEHL GmbH added: “BROEHL is a globally sought-after specialist for high-performance winches which offers our marine customers a full-service “made in Germany” portfolio from a single source, from engineering all the way to installation. So we assume that we offer great potential for leveraging synergies to a strategic partner”.
BROEHL intends to regain competitiveness through an insolvency proceeding. The niche supplier founded in 1885 has a workforce of 140 staff and is one of the technological leaders in the manufacture of heavy-duty winches for specialised shipbuilding, the offshore industry and for maritime installations. The established company enjoys an excellent market reputation with a customer structure encompassing globally active manufacturers and operators of offshore installations and (special purpose) ships.