FRANKFURT, April 30, 2013 – Today the whole business operations of insolvent Wessel-Werk Gmbh were acquired by Lafayette Capital Partners by means of an asset deal. Additionally, all shares of the Chinese and US subsidiaries were transferred. Lafayette CapitalPartners (LCP) acquired the company from the insolvency administrator Martin Lambrecht who had organized a bidding process for the company.
The international law firm Milbank, Tweed, Hadley & McCloy LLP advised Lafayette Capital Partners on all legal aspects of the acquisition. The parties agreed not to disclose the transaction volume.
Wessel-Werk GmbH is the world’s leading producer of high-quality vacuum cleaner nozzles. Its customers includes, among others, leading producers of high-quality vacuum cleaners, e.g. Miele, Bosch Siemens Hausgeräte, Kärcher and Vorwerk. In Germany Wessel-Werk GmbH has a 70% market share of the premium market.
Lafayette Capital Partners and the acquisition company were advised on the transaction by partner Peter Memminger and associates Leopold Riedl and Thomas Tiedemann (all Corporate/M&A, Frankfurt).
