Callista acquires Kress-elektrik

Callista stated the business is currently "in a distressed situation" and has financed a restructuring with a capital increase and loan commitments.

It will also seek to create new distribution partnerships and business-to-business sales, with the intent to significantly increase revenues in the next 12–18 months.

The vendor will continue to support the turnaround of the business in an advisory role.

Callista is a Munich-based turnaround specialist that conducts corporate carve-outs and acquires failing business models.

Company
Headquartered in Bisingen, Kress-elektrik develops and produces power tools for professionals and DIY chains. The company was founded by Christian Kress in 1930. It currently employs 90 people.

People
Olaf Meier is CEO of Callista.

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• Topics
• DACH
• Buyouts
• Restructuring
• Industrials
• Germany
• German Turnarounds
• Turnarounds