German adventure touring specialist Touratech has announced that an investor has been found for the motorcycle accessories manufacturer.
The insolvency administrator Dr. Dirk Pehl from Schultze & Braun signed a purchase agreement for Touratech on December 10, 2018. Though still subject to several conditions, which must be met before the acquisition will be finalised, the agreement is due to enter into force on 1st January 2018.
The details of the conditions and the purchase price were agreed under confidentia¬lity. The contract stipulates that almost all the employees and the Niedereschach premises will be taken over.
“We have found the ideal partner. The Touratech employees, who have done an excellent job over the past few weeks, can look to the future with confidence and I want to thank the customers for their incredible loyalty.”
The buyer is Happich GmbH, based in Wuppertal, Germany. Hap¬pich is a divison of Pelzer Swiss Holding AG and is a leading interior designer and accessory manufacturer for commercial and special vehicles.
Happich will continue the previous business model of Touratech and preserve both the location and the jobs on site. “Touratech complements our previous product portfolio perfect¬ly“, explained Managing Director Marc Pelzer. “I am looking forward to this new task.”
Touratech had filed for insolvency on 10th August - the reason being the late commissioning of the new 8,000 sq m facility Touratech had built in order to meet the continued growth in demand the company was facing. The move also involved difficulties with logistics and manufacturing - the resulting production losses and supply difficulties eventually led to insolvency.
www.touratech.com
