The mechanical engineering company Manz, known for its battery production systems, has entered insolvency and is now up for sale. The insolvency administrator, Martin Mucha, announced that the consulting firm PwC is assisting in the search for a buyer for the entire company. Mucha expressed optimism that a suitable solution could be found by spring.
The company is actively seeking a strategic investor to acquire it as a whole. To enhance its appeal to potential buyers, Manz will maintain uninterrupted business operations while simultaneously initiating the delisting process to remove its stock from public trading.
Manz filed for insolvency on December 19, 2024, with the Stuttgart District Court, following a failure to secure further funding from lenders after negotiations yielded no positive outcomes. The company’s management board decided to take this step given the significant overindebtedness and the lack of necessary cash flow.
In its various technological fields—including automation, metrology, laser processing, and roll-to-roll processing—Manz plays a crucial role in battery production. However, challenges in the European battery sector have affected project timelines and scales, putting additional strain on suppliers like Manz.
Manz reported revenues of 250 million euros for 2023, but projections for 2024 suggest earnings will fall to between 170 and 180 million euros. The company faced losses as of its most recent financial statements.
Source: Electrive
