AUSTRIA - DZ Equity’s Illichmann enters administration
DZ Equity Partner's portfolio company Illichmann Aluminiumguss GmbH has filed for insolvency. Austrian press reports suggest that Illichmann's lenders have refused to provide additional loans to the company, while also cancelling its existing credit facilities.
Previously, DZ Equity had been in talks to sell the company, with a sale to management as one of the possible options.
Altmünster-based Illichmann Aluminiumguss GmbH is a niche manufacturer of die-cast aluminium moulds for aluminium and silicon alloys, using ingot mould, sand-cast or low pressure casting processes. Founded in the 1930s, the company employs a staff of 200 and generated revenues of EUR18m in 2005.
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