Investor found for solar module manufacturer Calyxo
Berlin, 04.07.2018. The search for an investor for the insolvent solar module manufacturer Calyxo GmbH was successfully completed. Insolvency administrator Prof. Dr. Lucas F. Flöther (Flöther & Wissing) has sold the business operations to TS Group GmbH with the support of the management consultancy Restrukturierungspartner.
TS Group GmbH, based in Aachen, took over the business operations - including all production facilities and all patents - and 130 employees of Calyxo GmbH on July 1, 2018. The parties have agreed not to disclose the purchase price. In order to make the company profitable and competitive again, the Group plans to invest millions at its site in Bitterfeld-Wolfen. Calyxo GmbH is one of the leading German manufacturers of highly innovative thin-film solar modules made of cadmium telluride (CdTe) and a provider of turnkey system solutions.
The solar module manufacturer filed for insolvency at the beginning of April 2018 and Dr. Lucas F. Flöther (Flöther & Wissing Insolvenzverwaltung) was appointed provisional insolvency administrator. In recent weeks, Dr. Robert Tobias and his team of experts had approached a large number of national and international investors as part of a structured investor process. Intensive negotiations were conducted with international interested parties - among others from Asia and the Middle East. In the end, TS Group GmbH was able to prevail over other bidders. The Aachen-based company produces special machines, test centres for car tyres, cardan shaft test stands and industrial furnaces.
'We are delighted that, despite the difficult market environment in the German solar industry, we have succeeded in winning an investor with a convincing concept for Calyxo,' explains Nicolas Knop, project manager responsible for the investor process.
Insolvency Administration: Flöther & Wissing Insolvenzverwaltung: Prof. Dr. Lucas F. Flöther (Partner)