McTrek acquired by GA Europe and CM Solutions

Thomas Rittmeister of Reimer Rechtsanwälte managed the restructuring process as court-appointed administrator. Roland Berger was mandated to run the sale process, as reported by Unquote sister publication Mergermarket.

The company cited the impact of coronavirus lockdown closures on its liquidity in its insolvency filing.

The company will operate as McTrek Retail, a new company established following the sale as an asset deal directly from the administrator.

The investors plan to work on the company's retail and digitalisation strategy in partnership with its management as part of the restructuring process, according to a statement.

Prior to the insolvency filing, McTrek was owned by Belgium-based travel and outdoor products retailer AS Adventure, a portfolio company of PAI Partners. PAI acquired AS Adventure in April 2015 via PAI Europe VI. The company was valued at €393m at the time of the acquisition, according to PAI's website.

AS Adventure bolted on McTrek in August 2017 for €34m, according to Mergermarket, in a deal largely financed via additional equity totalling €25-30m from PAI, according to a report from Mergermarket. McTrek reported EBITDA of €4.7m at the time.

GA Europe specialises in turnaround investments in retail companies. The Germany-based firm is listed on the Nasdaq and has a market capitalisation of around €400m.

CM Solutions provides consultancy services for retail businesses, including project development programmes and interim management options.

Company
Founded in 1995, McTrek is an outdoor clothing retailer that operates under the principal brand name McTrek. Headquartered in Hanau, Germany, the company has 31 branches and employs 300 people. It reported 2019 revenues of €50m.

People
McTrek – Dominik Poley (co-managing director).
GA Solutions – Tino Bauer (managing director).
CM Solutions – Christian Müller (managing director).

Advisers
Vendor – Roland Berger (M&A); Reimer Rechtsanwälte (legal).
Equity – Pluta Rechtsanwaelte (legal); Dittmar Legal (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• DACH
• Consumer
• Germany
• PAI Partners