NAYAK GROUP CONTRACT OF PURCHASE SIGNED AND SEALED
The purchase contract entered into by Dr Christoph Niering, insolvency administrator of NAYAK Aircraft Service GmbH & Co. KG, NAYAK International GmbH and NAYAK Holding GmbH, and a consortium of German and Dutch investors became legally effective on 31 August 2017, allowing the investors’ companies to continued business operations as of 1 September 2017.
Despite complex specifications on a very competitive market, it was possible to preserve one of the leading European technical service providers for airlines, originally employing approximately 600 workers at 32 locations in 14 European countries.
The deal included full transfer of the Dutch and Italian affiliated businesses and their legal entities. German company operations were reduced by about 40% and traced back to the profitable core business areas.
During the successful restructuring process and at the behest of insolvency administrator, Kai Peppmeier and his team as CEO/CRO were responsible for the recovery package, tangibly guiding both investor recruitments and the handover to the successful European investment group.