Quantum Capital Partners acquirers Thurn Group’s Greven Operations

Bonn, 2 Feburary 2018 – The liquid detergent manufacturing site in Greven, which was part of the insolvent Thurn Group, is close to getting a new owner. A company belonging to the internationally operating finance investor - Quantum Capital Partners (QCP) in Munich (Germany) – is scheduled to take over all operations in Greven from 9 February 2018. From this date, the Greven operations will be known as SoProNem Greven GmbH. Agreements to this respect have already been signed and completion of the transaction will happen once certain conditions precedents have been fulfilled. Through this strategic move, Quantum strengthens its market position as an important operator in the European liquid detergents market. In 2014, Quantum acquired the French SoProNem SAS from the Henkel Group and Quantum thus already is recognized as an experienced manufacturer of top quality washing detergents. The SoProNem Group will have a total liquid detergents capacity of 350.000 tons in its locations in Greven (Germany) and Nemour (France).

Dirk Obermüller, lawyer und partner in dhpg law firm and also the insolvency administrator for the Thurn Group commented: “I am glad there now is a future for the Greven plant and its employees. I want to thank all parties involved, especially the factory’s work council and the IGBCE Union for the constructive discussions held and their support in this process.” Steffen Görig, CEO Quantum Capital Partners, added: “We see a huge potential in the Greven operations and are convinced that together with our Nemours activities, this group has great growth opportunities, which we will pursue organically as well as through further acquisitions. Based on the positive feedback received from previous and existing Greven customers, we are certain to reach historic production levels quickly again. We look forward to support our management teams to expand the SoProNem Group and build a leading, European, liquid detergent manufacturer.” Daily operations in Greven will be managed by Mr. Ralf Sobottka, who has many years’ liquid detergent manufacturing experience running Henkel operations in Germany and internationally.

The Thurn Group filed for insolvency proceedings in September 2017. KPMG was contracted by Mr. Dirk Obermüller, to manage the broad and internationally focused search for a new investor. Over the last couple of weeks, intensive negotiations were held with multiple parties. The outcome was that the solidly financed Quantum offer and strategic plan prevailed as the best one.

Due to the declining revenues since the opening of the insolvency proceedings, it was unfortunately not possible to offer all previous Greven employees a job in the new Greven SoProNem GmbH. However, thanks to financial assistance from the acquirer, it was possible to establish a dedicated qualification and transfer company where employees who will not be joining Greven SoProNem GmbH at completion of the transaction, will have the opportunity to get help and assistance to qualify for new jobs.

 

About dhpg: dhpg is one of the leading, medium-sized consultancies in Germany specialised in the core fields of audits, tax consultancy, legal advice, insolvency management and restructuring advice. The owner-managed company is one of the 15 largest in its sector with over 500 staff at ten different locations. dhpg is part of the Nexia-Network, which is among the top 10 international consultancy networks with over 28,000 associates in 120 countries and sales of USD 3.2 billion.