Traditional company ITAG L&R GmbH handed over to new investors

After it was founded around 100 years ago, the newly renamed Mechanical Machining Celle GmbH (former ITAG L&R GmbH) has since established itself as a industrial company in Celle, Lower Saxony.  The company employs up to 33 people and is specialized in deep hole drilling, long turning and thread cutting. In June 2020, Mechanical Machining Celle GmbH submitted an application to open insolvency proceedings at the insolvency court in Lüneburg. Mr. Viktor von Websky (Reimer Rechtsanwälte) has been appointed as preliminary insolvency administrator. Centuros Consult GmbH supported the insolvency administrator to find a suitable investor as part of an M&A process.

As part of the preliminary insolvency proceedings, interest in Mechanical Machining Celle GmbH was aroused and potential investors were found. As one of the leading German companies in the field of deep hole drilling and long turning with a well-known customer portfolio, in particular strategic investors  expressed great interest. At the end of January, AMTEQ Bohr Zubehör GmbH, managed by Stefan Drengner and Ralf Beutler, announced the takeover and thus the resumption of the former ITAG L&R facility. As of February 1, 2021, five employees have already been hired again – successively more (including former) employees are to be hired quickly, thus building up the production of special components for the metal industry.

We are pleased that we were able to support Mechanical Machining GmbH together with Mr. von Websky and the team from Reimer Rechtsanwälte in the M&A process and wish the acquirer and the ITAG employees every success for the future.

Reimer Rechtsanwälte

Viktor von Websky (Insolvency Administrator)

Friederike Kirch-Heim (Lawyer)