Teilzeit Thiele Group

Founded in 1969, Teilzeit Thiele is a pioneer on the temporary personnel sector. The Teilzeit Thiele Group consists of eight companies in total, employing approximately 1,500 people at 17 locations. Offices are distributed throughout the East Westphalia-Lippe district on the northern edge of the Ruhr area, in Lower Saxony and in Saxony-Anhalt. The Teilzeit Thiele Group is one of the regional market leaders as well as one of the largest employers in its home region.

REORGANISATION AND SALES PROCESS

Due to unprofitable transactions outside its own core business, Teilzeit Thiele Group filed for insolvency in December 2018. On 1 February 2019, self-administrative insolvency proceedings opened. The solicitor Stefan Meyer, a PLUTA GmbH partner, was appointed interim trustee.

Teilzeit Thiele Group management was advised by BOEGE ROHDE LUEBBEHUESEN (BRL) law offices within the framework of the self-administration. BRL partners and restructuring experts, Friedrich von Kaltenborn-Stachau and Stefan Denkhaus, have supported the process as general representatives.

CVM Capital Value Management GmbH was mandated to support the business restructuring process and to conduct a structured investor process in consultation with the parties involved.

On 1 March 2019, as a result of self-administered insolvency proceedings supported by CVM, the company was successfully stabilized, sold to and integrated within the TEMPTON Group, which is headquartered in Essen. Both the creditors' committee and the trustee have consented to the sale.

TEMPTON is one of the leading employment service providers in Germany. In addition to temporary staffing, TEMPTON offers nearly all workforce-related services. In 2007, upon merging several medium-sized personnel services companies, TEMPTON was born, bringing together expertise acquired over several decades. With the integration of Teilzeit Thiele, the TEMPTON Group will now have around 7,000 employees working at more than 100 locations nationwide, with a broad customer base of approximately 10,000 companies of all sizes and in all industry sectors.

CVM Team: Jörg Schuppener (Partner), Adrian Loer (Consultant)
www.cvm-gmbh.de

BRL is an international partnership of lawyers, accountants and tax consultants, founded in Hamburg in 2006. Today, BRL has around 250 employees at locations in Hamburg, Berlin, Bochum, Dortmund, Hanover and Frankfurt, and is one of Germany's leading law firms in the area of reorganisation and insolvency. It was recently awarded the JUVE Award “Law Firm of the Year for Bankruptcy Law and Restructuring”. You can find further information at 
www.brl.de

PLUTA helps organisations that are in legal or economic difficulties. Since its emergence in 1982, PLUTA has grown steadily and today employs more than 400 people in Germany, Spain, Italy and Poland. These include more than 90 legal professionals and 40 businesspeople, many of whom are lawyers and tax consultants with multiple qualifications including chartered accountants, auditors or MBAs. PLUTA is a leading business reorganization and restructuring company, with excellent rankings and awards from INDat, JUVE, Focus, Legal 500, Who's Who Legal, Best Lawyers and Global Restructuring Review (GRR 100). You can find further information at 
www.pluta.net

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