King & Wood Mallesons (KWM) has advised Visionmax Germany GmbH (Visionmax), which will operate under Hüller Hille GmbH in future, on the acquisition of the business operations of Zuse Hüller Hille Werkzeugmaschinen GmbH (ZHH) out of insolvency.
On 1 October 2019, following the successful completion of the regulatory proceedings both in Germany and China, the business operations were transferred with effect from 1 June 2019.
The assets of ZHH, a company based in Mosbach (Germany), were transferred to KWM’s client Visionmax, a subsidiary of Visionmax Asset Management Co. Ltd. The Chinese investment service provider was founded in 2011 and offers services such as investment consulting and asset management as well as the provision of investment strategies and implementation of such investments.
ZHH has been manufacturing premium quality machine tools since 1947. The product range includes high-quality horizontal 4- and 5-axis machining centres as well as the vertical centre NBV 700 in modular machine design. ZHH products are used in the automotive industry among others.
At the beginning of April 2019, ZHH filed for insolvency. Mr Marcus Winkler from BBL Bernsau Brockdorff was appointed as insolvency administrator. Visionmax acquired ZHH out of insolvency and has been supporting the company financially since June 2019 in order to maintain business operations. Visionmax sees great potential in the mechanical engineering sector and enormous opportunities for further development of ZHH. Furthermore, there is a high demand for the products of ZHH in the Asian market, so that Visionmax is optimistic about the future with ZHH.
Advisors Visionmax Germany GmbH:
Hui Zhao (partner), Dr. Sandra Link (partner), Dr. Tilmann Becker (counsel | AWG key contact), Dr. Xianrui Wang (associate), Stephan Klein (associate), Dr. Katrin Thoma (associate), Heling Zhang (PSL) (all Corporate/M&A), Dr. Johannes Reitzel (counsel, Employment)