Flick Gocke Schaumburg advises KRAH Group on acquisition of HKR Seuffer through a joint venture with HyoSeong

A consortium of bidders from the German KRAH Group and Korean HyoSeong Electric will acquire the business operations of insolvent HKR Seuffer Automotive. KRAH will acquire a 50% stake in the Chinese joint venture Shanghai Krah Seuffer Electronics Co Ltd. The transaction is expected to be completed in April 2019. Flick Gocke Schaumburg advised KRAH on the structured M&A process from a legal and tax perspective and took care of the tax and financial due diligence.

HKR Seuffer Automotive GmbH & Co. KG supplies OEMs and system suppliers from Europe, Asia and the USA with innovative power electronics for the automotive sector. The company had to file for insolvency in November 2018 and was sold to the bidding consortium during the insolvency proceedings.

KRAH Unternehmensholding GmbH + Co KG is a medium-sized family business founded in 1970 and headquartered in Drolshagen, North Rhine-Westphalia. The group has over 1,900 employees worldwide at ten sales, development and production sites in Europe, Asia, and South and North America.

Advisers to KRAH Unternehmensholding GmbH + Co. KG:
Flick Gocke Schaumburg, Bonn: Stephan Göckeler (corporate/M&A), Christian Brünkmans (restructuring and insolvency, both lead); Martin Cordes, Christian Hoppen (both tax and financial due diligence)