The administration of Baumann Perfecta, manufacturer of guillotines has ahas a happy ending with the 60 strong business purchased from administration by Solvesta Betiligungs.
The company was put into administration at the end of February placing the jobs of the staff at the factory in Bautzen near Dresden in doubt. As well as Perfecta, the factory produced guillotines under the Wohlenberg brand and the Apressia models for Komori.
The business is steeped in guillotines for print, dating back to 1896. It became independent after the unification of Germany and then part of the Baumann group. In recent years the market has turned as managing director Peter Voigt states: “Declining sales figures for traditional print products and cost pressure from Asian suppliers were recurring themes throughout the sale process. Now with a new shareholder, we can and intend to differentiate ourselves in this competitive market environment by internationalising and further developing our entire systems business and service business for the complete installed base of Perfecta machines.”
The administration Rüdiger Bauch, partner at insolvency practitioners. Schultze & Braun adds that the challenges were compounded by “overlapping geopolitical and economic crises”. The deal has already been approved by the creditor’s committee.
Voigt is now responsible to a company that specialises in acquiring distressed businesses that are deemed to have a good chance of recovery. It looks for companies with sales ranging from €20 million to €80 million and where the insolvency is not due to market, product or sales issues. While there is no particular focus on any one industry, Solvesta has already worked with a number of manufacturers in the packaging industry.
Going forward the business is renamed as Perfecta Precision Cutting Systems and will continue with the product portfolio and factory in Bautzen.
The deal leaves Baumann Solms, which produces handling equipment, still in administration and without a buyer. Its administration is being handled separately to that of the guillotine company.
