Atlantik acquires insolvent Pfleiderer

The GP was listed in the company's insolvency plan as the sole future shareholder of the company following the restructuring. It is also mentioned that the firm will take on most of the company's debt and plans to delist it from the stock exchange in October.

Debt
The company's net debt in 2009 was €854.2m

Company
Pfleiderer was founded in 1894 and is based in Dusseldorf. It manufactures engineered wood, surface finished products and laminate flooring for multiple uses at home and in public spaces. The company has 16 sites in North America and Europe and employs 4,900 staff. It exports to 80 countries worldwide.

The company experienced a 20% revenue decline in 2009 to €1.382bn mirrored by a decline of its share price by 63% in March 2009 compared with the beginning of the year. Its 2009 EBITDA was €100.4m with a net profit of -€69.8m. The projected turnover for 2011 was €1.1bn.

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• Topics
• DACH
• Buyouts
• Industrials
• Turnaround/Special Situations
• Germany