Technische Glaswerke Ilmenau

General information

Industry:

glass production

Employees:

approx. 220

Turnover:

roughly EUR 21 million

Region:

international

Initial situation

TGI GmbH was located in Ilmenau, one of the European centres for glass production. Four independent production lines provided for a wide range of products. Due to missed decisions, the company came under liquidity pressure and had to apply for the opening of insolvency proceedings in June of 2014. Restrukturierungspartner were commissioned to carry out a structured bidding process in order to secure business operations in the context of a transferred restructuring.

Services

In an 18-week sales process, Restrukturierungspartner approached more than 1,000 national and international companies in the glass processing industry and related sectors and around 170 national and international private equity companies and family offices. In the end, Bohemia Cristal Handelsg.mbH asserted itself as investor. The site in Ilmenau and the jobs could be saved.