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Successful transactions (M&A)

Here you will find a selection of transactions that Apenberg & Partner has successfully implemented.

Neef+Stumme is restructured

December 2018 | Neef+Stumme Premium Printing GmbH & Co. KG, headquartered in Wittingen, which has been undergoing insolvency proceedings since the summer of 2018, has been able to successfully terminate the "Insolvency under its own administration". As part of an asset deal and with the support of a strategic investor, Neef+Stumme GmbH will take over full business operations as of December 1, 2018. In addition, a strategic partnership was concluded with the TSB Group (Mönchengladbach), so that Neef+Stumme will benefit in particular from the purchasing association with this European printing group in the future. Out of 244 former jobs, 195 jobs have been secured.

As part of a distressed M&A mandate, Apenberg & Partner successfully concluded the transaction with the preparation of a restructuring concept and the securing of a strategic investor.


Neumann Group acquires Arti Calendar & Promotion Service

March 2018 | The Kiel-based calendar specialists of the Neumann Group have took over Arti Kalender & Promotion Service GmbH, Herzebrock-Clarholz, within the scope of a transferring reorganization. The purchase agreement was signed in mid-March. The parties have agreed not to disclose the purchase price. The transfer of operations took place on 1 April 2018. The sale of Arti will preserve 71 of the original 121 jobs. The new company will operate under the name arti promotion GmbH.

Apenberg & Partner initiated and structured the transaction and provided comprehensive advice to the buyer.


Successful capital increase at Janoschka

Kippenheim/Stuttgart, 16 October 2017 | The Janoschka Group has carried out a capital increase together with Süd Beteiligungen GmbH (SüdBG). As a new shareholder, the Stuttgart-based holding company supports the planned further growth of the globally active group of companies headquartered in Kippenheim, Germany.

Founded in 1976, the group is one of the world's leading manufacturers of artwork and a full-service provider for the packaging industry. Janoschka is a full-service provider of bespoke products that cover the entire value chain, from digital creation and optimization of print images to production of artwork (print cylinders, plates and sleeves).

"With SüdBG, we have gained a renowned equity partner on board," says CEO Alexander Janoschka. For Janoschka, the capital increase not only provides a basis for further acquisitions in Southeast Asia and South America, but also allows the medium-sized company to further expand its digital competence. "SüdBG's acquisition of Janoschka will strengthen our international presence and enable us to offer our customers even better service," says COO Michael Janoschka. "Over the past few years, we have successfully aligned our financial structure to an investor-oriented environment and with SüdBG have gained a long-term partner that will further strengthen the company's financial power," said Fabian Naudascher, CFO at Janoschka.

Apenberg & Partner advised Janoschka on the preparation of a comprehensive commercial due diligence.


The Neumann Group is growing

Zettler Kalender GmbH in Schwabmünchen is now a company owned by Dr. Neumann-Wolff AG in Kiel, which also owns the publishing houses Alpha Edition, Palazzi Kalender and teNeues Calendars & Stationery. Susanne Bergmann, who has been managing the company since 2008, remains managing director of Zettler Kalender GmbH.

Founded in 1923 by Emil Zettler as a local commercial printer, the medium-sized company today employs 110 people and realizes the entire product cycle from the idea to the calendar printer and delivery. Every year, the company produces around 14 million tear-off and appointment calendars, mainly in its own plant in Schwabmünchen. Its sales markets are Germany, Austria, Italy, Benelux and Scandinavia.

Apenberg & Partner initiated and structured the transaction and provided comprehensive advice to the buyer.

BWK and PL Investments acquire stake in SDV Group

Stuttgart / Zurich, 23 August 2016 | BWK and PL Investments take over major parts of the SDV Group together with the management as part of a succession plan / Specialist for high-quality, individualized print products with locations in Dresden and Weidenberg (Bavaria).

Market leadership to be expanded BWK GmbH Unternehmensbeteiligungsgesellschaft (BWK) and PL Investments I SA (PLI), which is advised by Kieger AG, Zurich, as investment advisor, together with company management acquire all shares in the print companies of the SDV Group following successful agreement with the previous main shareholder Christoph Deutsch. BWK and PLI each have a 40 percent stake in the transaction. The parties have agreed not to disclose the purchase price.

Apenberg & Partner advised the investors comprehensively within the scope of commercial due diligence.

"I would like to take this opportunity to thank you very much for your support. We felt very well advised", Christian Sorg, BWK GmbH, Stuttgart.


teNew calendar division from 2015 at the Neumann Group from Kiel

On January 1, 2015, the calendar and stationery division of teNeues publishing house will become an independent company of Dr. Neumann-Wolff AG under the name teNeues Calendars & Stationery GmbH & Co. KG. The Kiel-based group of companies also includes the specialist publishing houses ALPHA EDITION GmbH & Co. KG and PALAZZI Kalender GmbH. Sebastian teNeues remains active as managing director and publisher of the company.

The book division of teNeues Verlagsgruppe remains unaffected by this. Following a split-off as a legally independent company, it will remain with the previous shareholders Hendrik and Sebastian teNeues and will henceforth be known as teNeues Media GmbH & Co. KG. Hendrik teNeues remains the sole managing director and publisher.

Apenberg & Partner initiated and structured the transaction and provided comprehensive advice to the buyer.


Printing house Heinevetter receives new owner.

P + M Print und Medien Nord GmbH & Co. Holding KG of Kiel-based entrepreneur Helmut Wünderlich, which also includes the print shops G+D Grafik+Druck (36 employees) in Kiel and Media-Print Witt GmbH (30 employees) in Reinbek near Hamburg, has taken over the print shop Alfred Heinevetter in Bad Schwartau near Lübeck as part of a company succession. The managing partner Alfred Heinevetter has retired, the new managing director of the company is Helmut Wünderlich.

Apenberg & Partner initiated and structured the transaction and provided comprehensive advice to the seller.


Deutsche Bauernverlag sells "Der Hund".

Berlin-based publishing house Deutsche Bauernverlag has sold one of the oldest dog magazines in Germany, "Der Hund", to the FORUM Zeitschriften und Spezialmedien GmbH, Merching near Munich.

Apenberg & Partner advised the seller on this transaction.


Igepa Group takes over X-Doc-Solution GmbH

X-Doc-Solution GmbH (Berlin) has been part of the paper wholesale group Igepa since 1 July, 2012. With this acquisition, the Igepa Group is continuing its strategy of expanding its portfolio of products and services for printing needs. Customers should benefit from the synergies in the future as a result of the takeover into the Igepa Group. The Igepa Group's offering in the professional printing market will be further established through cooperation in customer support and delivery. Customers will receive products and services from a single source and be able to benefit from an increased level of service.

Apenberg & Partner advised the seller and accompanied the entire transaction up to the conclusion of the contract.


Kiel-based Neumann Group continues growth – Dutch calendar manufacturer Helios acquired.

The Neumann & Wolff advertising calendar GmbH & Co. KG, a subsidiary of the Kiel-based Neumann Group, has completed the acquisition of the Dutch company Helios Kalenders. Helios is one of the most important calendar manufacturers in the Netherlands and is based in the town of Eibergen south of Enschede. The company was taken over from the insolvency estate of the insolvent Drukkerij Heinen Eibergen B.V.

Apenberg & Partner advised the buyer and accompanied the entire transaction up to the conclusion of the contract.


Michaelis & Co. (IGEPA) takes over Friedrich W. Beck

Friedrich W. Beck GmbH & Co. KG (Lübeck), was taken over by the paper wholesaler E. Michaelis & Co. (GmbH & Co.) KG. With the takeover Beck becomes part of the Igepa Group.

Apenberg & Partner advised the seller and accompanied the entire transaction up to the conclusion of the contract.


Landwirtschaftsverlag from Münster has gained a strategic partner for LV.Druck.

The publishing house Landwirtschaftsverlag from Münster has succeeded in winning a strategic partner for its printing company LV.Druck and thus securing all permanent jobs. It is planned to offer as many employees as possible a job at the Griebsch & Rochol print shop in Hamm. Further job offers come from Dierichs Druck + Media in Kassel. Both companies belong to the Print Media Group.

Apenberg & Partner advised Landwirtschaftsverlag on this transaction.

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