Nanogate has successfully divested its subsidiary Nanogate Textile & Care Systems GmbH as part of a management buyout. The subsidiary develops, manufactures and sells products primarily in the shoe and textile care sector. Nanogate, headquartered in Germany, is a leading global technology company for design-oriented, multi-functional components and surfaces.
As part of the company’s restructuring strategy, the subsidiary is no longer part of the core business. The buyer is Benzy Verwaltung, whose managing partners Holger Zytur and Salah Bendjaballah are long-standing managers at Nanogate textile & care systems. The current six employees will continue to be employed by Nanogate Textile & Care Systems GmbH. In the future, the Nanogate group and Nanogate Textile & Care Systems GmbH will work closely together, for example in the area of production. The transaction will take economic effect on January 1, 2021. The purchase price will be used to service claims by secured bank creditors of Nanogate as part of the ongoing insolvency proceedings in self-administration, the company said in a press release.Nanogate has successfully divested its subsidiary Nanogate Textile & Care Systems GmbH as part of a management buyout. The subsidiary develops, manufactures and sells products primarily in the shoe and textile care sector. Nanogate, headquartered in Germany, is a leading global technology company for design-oriented, multi-functional components and surfaces.#
Nanogate had already agreed to sell significant parts of its core business to the US-based Techniplas group on May 8, 2021. Furthermore, negotiations regarding the sale of Nanogate Electronic systems are still ongoing.
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