Sector: Automotive industry
Product Range: Valves, seating components
Revenue: EUR 130 M
Employees: 1300

Initial Situation

  • Offensive growth strategy with many acquisitions and high investments
  • Restructuring of debt financing nearing completion
  • Massive slump in automotive sales in Q4 year -1
  • Financing discussions could not be successfully concluded due to additional collateral requirements as a result of the changed industry environment
  • Difficult financing environment, consisting of heterogeneous bank pool, investment company, as well as program and individual mezzanine

Procedures and Services

  • Creation of a restructuring concept including short-term liquidity planning
  • Examination of all financing options (factoring, SLB, etc.)
  • Continual implementation of measures including measures controlling:
  1. Immediate savings through shorter working hours & WC management
  2. Avoidance of customer announced price reductions
  3. Relocation of manual & semi-automatic assembly lines and reduction of indirect production areas


  • Turnaround could already be achieved after 9 months
  • Successful implementation of factoring
  • Stabilizing and ensuring liquidity by the end of year 2 while maintaining sufficient flexibility
  • Restructuring of collateral for the financiers
  • Entrepreneurial leadership of the group remains with the main shareholders


Source: Conentro