Manz is up for sale

The provisional insolvency administrator of Manz AG, Martin Mucha, informed DPA in response to an enquiry that the consulting firm PwC is supporting the search for an investor. Mucha is confident that a solution will be found in the course of the spring.

This apparently involves the search for a strategic investor to take over the company in its entirety. Manz AG is now to be prepared for this. On the one hand, business operations will continue without restriction in order to be more attractive to potential investors. In addition, according to Mucha, the delisting process is underway to remove the stock corporation from the stock exchange.

Manz announced the insolvency application on 19 December and filed it with the Stuttgart District Court shortly afterwards. The specific reason for this was a decision by lenders not to provide any further funds. Talks with several lenders had not led to any results, which is why the Management Board decided to file for insolvency shortly before Christmas – the company is overindebted and insolvent without the cash injection.

Manz specialises in automation, metrology, laser processing, wet chemistry and roll-to-roll processes – fields of technology that are also required in battery production. not all projects in the European battery sector have gone as planned. They are often realised later or on a smaller scale, which in turn puts pressure on factory equipment suppliers who have invested in advance in order to be able to deliver for these projects.

In the annual financial statements for 2023, Manz reported revenue of 250 million euros – according to the latest reports, revenue of 170 to 180 million euros is expected for 2024. In terms of earnings, however, Manz was already in the red in 2023.

handelsblatt.com (in German)