Schock Metallwerk GmbH, a metal processing firm from Urbach, Germany, got in financial difficulties at the beginning of 2020. The company filed for insolvency in own administration in January. Now, the insolvency is completed: the operations of the group will be continued. New investors are playing a major part in the restructuring: Frank Trick (shareholder of FTS Baltic) and the Stuttgart-based single family office of Karl-Friedrich Kaupp are supporting the restart.
Kaupp single family office from Stuttgart invests in Schock’s restart
The special profiles and metal products of Schock are used in the automotive, home appliances or retail industry. Revenues in 2018 were at approximately €45M. The insolvency was mainly caused by problems with a long-term supplier, which finally completely halted delivery. The massive slump in sales led to financial troubles. Now, the insolvency is completed and the company is looking forward to a restart. 120 workplaces were saved. A main part of the restructuring process is a new company structure below the STK Holding GmbH and in cooperation with Latvian producer FTS Baltic SIA. New investors like the Kaupp family office ensure financial stability of the restructured company. Karl-Friedrich Kaupp is a tax expert and private equity investor from Stuttgart.
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- Industryinsights.eu (external)