A private equity fund advised by German investment firm CMP Capital Management-Partners (Berlin; www.cm-p.de) will acquire Germany’s largest manufacturer of sailing yachts and motor boats, Bavaria Yachtbau (Giebelstadt; www.bavariayachts.com), through a transfer of restructuring after insolvency – see Plasteurope.com of 12.07.2018. Its French subsidiary, Bavaria Catamarans, is also part of the transaction. A corresponding purchase agreement was concluded on 15 September 2018, along with the approval of the creditors’ committee and Bavaria Yachtbau administrator, Hubert Ampferl. The companies agreed not to disclose financial details.

At the end of April 2018, Bavaria Yachtbau had applied for permission to restructure under self-administration; the German district court of Würzburg opened the proceedings in July.

All 550 employees at the Giebelstadt site and all 250 employees in Rochefort / France will be transferred to the Berlin-based firm. According to CMP managing director Kai Brandes, the focus is on “regaining market share and improving production costs.” This is to be managed by restructuring expert and CMP partner Ralph Kudla, who will join Bavaria’s executive board, and Bavaria's managing director Tobias Brinkmann.