ICE Gateway: successful investor process in record time
Within a few weeks, the investor process for the insolvent ICE Gateway GmbH was successfully completed. A strategic investor has taken over the Berlin-based start-up as of August 1, 2021. Restrukturierungspartner exclusively advised the insolvency administrator Dr. Susanne Berner on the investor search.
ICE Gateway GmbH had to file for insolvency proceedings in mid-June 2021. In the course of the Corona pandemic, customers had postponed or prematurely terminated many projects, especially in the Smartcity area. As a result, a financing round burst and a loan installment could no longer be paid, so that ICE Gateway GmbH had to file for insolvency.
The Charlottenburg Local Court appointed Dr. Susanne Berner of Dr. Berner & Partner Rechtsanwälte PartG mbB as provisional insolvency administrator. The experienced specialist lawyer for insolvency and tax law immediately initiated a structured investor process to find a suitable investor for the start-up. The search was accompanied by Restrukturierungspartner. The team led by Managing Director Werner Warthorst and Manager Dr. Fabian Meißner had just two weeks to approach national and international investors, conduct due diligence and submit the final bids. In the end, a strategic investor prevailed in the investor process. The parties agreed not to disclose the purchase price.
“Being able to give the start-up ICE Gateway and its team a perspective for the future makes us very happy,“ said insolvency administrator Dr. Susanne Berner. “Against the backdrop of the tight time frame and the complexity of the services and products offered, we are very pleased that we were able to find an investor and retain ICE Gateway's expertise. The process has shown that viable solutions can be found even after financing rounds have fallen through and an insolvency application has been filed,“ explains Dr. Fabian Meißner, who oversaw the investor process as project manager.
About ICE Gateway GmbH
ICE Gateway GmbH develops and sells IoT-based hardware and software for edge computing that enables local data pre-processing and device management for any collected data. In addition, the start-up offers its customers the corresponding software solutions (SaaS) for operation and maintenance services.