AdAstra acquires Kappus

Kappus filed for insolvency in September 2018. Franz-Ludwig Danko was appointed as insolvency administrator. The sale process began in December 2018, as reported by Unquote sister publication Mergermarket.

Mergermarket reported in January 2019 that the company had received a binding offer from a bidder in its sale process. A source familiar with the situation told Unquote that the company had received interest from a number of strategic and financial buyers, but some had only expressed interest in certain business units, whereas AdAstra was able to acquire the business fully.

The Munich-based GP generally invests equity cheques of €1.5-7m, according to its website.

AdAstra was not available for comment at the time of publication.

Company
Kappus produces soaps and soap bars, with roots going back to 1771. It had 350 employees when the sale process was initiated and now has 80 employees at each of its sites in Krefeld, Heitersheim and Riesa. It reports turnover of around €80m, according to the same source.

People
AdAstra – Ulrich Clemm, Thomas Krüger (managing partners).

Advisers
Equity – Wellensiek (legal).
Company – One Square Advisers (M&A); Danko Insolvenzverwaltung, Franz-Ludwig Danko (legal); Wieselhuber & Partner (legal).

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• Topics
• Buyouts
• DACH
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• Germany