Linklaters advises Standard Profil Automotive GmbH on the restructuring of its financial indebtedness
Linklaters has advised leading international automotive supplier Standard Profil Automotive GmbH on the restructuring of its financial liabilities amounting to c. EUR 350 million. The restructuring of the company’s English law governed EUR 275 million senior secured notes was implemented by way of a scheme of arrangement under Part 26 of the UK Companies Act 2006 which was sanctioned by the High Court of Justice of England and Wales.
As part of the restructuring, the existing senior secured notes, term loan and bridge financing have been replaced by new financial instruments, creating a sustainable capital structure and facilitating a cash injection of EUR 145 million by existing creditors that will also acquire equity ownership of the Standard Profil Group.
Standard Profil Group, headquartered in Eschborn, is a globally active automotive supplier specialising in the development and production of sealing systems for the automotive industry.
“This restructuring underscores the international reach and flexibility of modern compromise procedures based on the English legal framework, enabling efficient and cross-border solutions for companies and creditors and creating stability during transformation phases,” says Riaz Janjuah, partner in restructuring and insolvency at Linklaters.
The Linklaters team was led by Riaz Janjuah (Partner, Restructuring & Insolvency, Hamburg) and Ewan Smith (Managing Associate, Restructuring & Insolvency, London). Other team members included Richard Hodgson (Partner, Restructuring and Insolvency, London), Michal Hlasek (Partner, Banking, Frankfurt), Christianne Williams (Partner, Banking, London), Oliver Rosenberg (Partner, Steuerrecht, Düsseldorf), David-Julien dos Santos Goncalves (Partner, Antitrust & Foreign Investment, Dusseldorf), Kirsten Placke (Counsel, Tax, Düsseldorf), Alexandra Selezneva (Managing Associate, Banking, Düsseldorf), Gregory Wloch (Managing Associate, Litigation, Arbitration & Investigations, London), Mikolaj Orzazewski (Associate, Restructuring and Insolvency, London), Julian Koch (Associate, Restructuring and Insolvency, Frankfurt), Niklas Wilhelm (Associate, Restructuring and Insolvency, Hamburg), Dr. Phillip Bergjans (Associate, Banking, Frankfurt), Dr. Johannes Gottwald (Associate, Banking, Hamburg), Dr. Marcel Scholz (Associate, Tax, Düsseldorf), Samy Amirouchen (Associate, Banking, London), India Short (Associate, Litigation, Arbitration & Investigations, London), Bhavisha Sharma (Associate, Litigation, Arbitration & Investigations, London) and Zaheen Akram (Trainee Solicitor, Restructuring & Insolvency, London).
