Eurocov buys KTN out of administration

KTN filed for insolvency in November 2020. Harald Schwartz of Schwartz Insolvenzverwalter was appointed as provisional administrator.

The sale comes following an M&A process to seek a new investor for the company.

According to a statement, KTN's sites in Neumarkt will be retained, as well as all of the company's staff.

Eurocov is backed by entrepreneur Philipp Mühlbauer. Mühlbauer previously worked with Pfleiderer Group, which previously owned KTN, according to a statement.

Company
Founded in 2004, KTN produces PVC and polyethylene-based plastic pipes that are used to protect cables and other infrastructure. The company employs 15 staff.

People
Eurocov Industriebeteiligung – Philipp Mühlbauer (founder).
Kunststoff-Technik Neumarkt – Antonio Giangrasso (CEO).

Advisers
Equity – Theopark Rechtsanwälte, Rainer Scharf (legal).
Vendor – Consilio Forte (corporate finance).

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