Future secured: investor found for Achtzig20 based in Ingolstadt

Achtzig20 GmbH has announced its successful restructuring. unconventional Holding SE will acquire the business operations and take on all some 160 employees, as well as the subsidiaries in Austria and Slovenia, effective 1 September 2024. The facility in Ingolstadt will be maintained. Achtzig20 has been involved in debtor-in-possession restructuring proceedings aimed at equipping the company for the future since June.

Attorney and managing partner Mr Ivo-Meinert Willrodt and industrial clerk Mr Hans-Christian Källner, both restructuring experts at PLUTA Rechtsanwalts GmbH, have been supporting the repositioning of the software and consultancy firm during this time. As part of the restructuring, they launched the process of finding an investor, which has now been completed. Mr Willrodt, chief restructuring officer of Achtzig20 GmbH, said, “The solution not only ensures the company’s survival and preserves its know-how, but also opens the door to new growth opportunities in an attractive market. I am therefore pleased with the agreement achieved.”

His PLUTA colleague Mr Hans-Christian Källner added, “We have held numerous discussions with potential investors and thoroughly reviewed all offers. The outcome now achieved is also very positive for the employees.” Attorney Mr Martin Jungclaus, a partner at PLUTA Rechtsanwalts GmbH, assisted with the contract drafting, negotiating several different draft contracts with interested parties in parallel. The transaction was supported by Mr Jonas Eckhardt and his team at M&A advisory firm FalkenSteg.

Debtor-in-possession restructuring proceedings

On 29 July 2024, the Local Court of Ingolstadt opened in-court restructuring proceedings under debtor-in-possession management and appointed attorney Mr Marc-André Kuhne from law firm DKR Kuhne Dr. Raith in Munich as insolvency monitor. He welcomed the conclusion of the process of finding an investor and expressed his gratitude for the professionally conducted debtor-in-possession proceedings: “This outcome is also the best possible solution for creditors, as it will significantly increase their recovery rate.”

Achtzig20 GmbH specialises in the areas of software development and management consulting. It provides various development and sales services and offers comprehensive advice on automating related business processes. Those responsible have implemented an extensive restructuring concept over recent weeks, while business operations have been maintained without restriction. The motivated staff have remained on board and continued to provide all services for customers.

The German company is part of the 8020.eco business ecosystem and has subsidiaries in Austria and Slovenia, which will also be acquired by the strategic investor. Mr Marc Althoff, managing director of unconventional Holding SE, said, “We are very pleased with this agreement. The company brings with it valuable know-how, and we want to further drive growth on this basis. Working together, we will press on with building on Achtzig20’s strengths and guide the business successfully into the future.” The company will continue to trade as Achtzig20.