Techniplas, Nashotah, Wisconsin, a provider of highly engineered plastic components, has announced that it has signed an agreement to acquire major parts of the business from Nanogate SE (“Nanogate”). Headquartered in Germany with locations worldwide, Nanogate is a technology company that produces design-oriented, multi-functional components and surfaces primarily for the automotive and industrial industries.
Techniplas acquires major parts of the business assets of Nanogate SE and the insolvent subsidiaries Nanogate Management Services GmbH, Nanogate NRW GmbH, Nanogate PD Systems GmbH and Nanogate Neunkirchen GmbH by way of an asset deal, as well as the investments in non-insolvent subsidiaries (e.g., Nanogate North America LLC, Nanogate heT Engineering GmbH, Nanogate Netherlands B.V., Nanogate Schwäbisch Gmünd GmbH, Nanogate Slovakia s.r.o.) through share deals.
The purchase price (in EUR) is in the mid-double-digit million range and is used entirely to service claims of creditors of Nanogate SE and other insolvent group companies in the context of ongoing insolvency proceedings in self-administration. The implementation of the transaction is still subject to the occurrence of various conditions.
For more information, visit www.techniplas.com.