Rheinmetall Signs an Agreement to Take Over the Activities of Drone Manufacturer EMT With Support From Heuking
December, 2021 - Germany
A team led by Dr. Johan Schneider, Partner at Heuking Kühn Lüer Wojtek’s Hamburg office, legally advised Rheinmetall Technical Publications GmbH, a subsidiary of MDAX-listed Rheinmetall AG, on acquiring the business operations of EMT Ingenieurgesellschaft Dipl.-Ing. Hartmut Euer mbH, which is in insolvency. Via its Bremen-based subsidiary and its own real estate company, the Düsseldorf-based group is taking over the renowned drone manufacturer’s activities, including the company premises, as part of its digitalization strategy. Notarized last week in the form of an asset deal, the takeover is expected to take effect at the beginning of January 2022. The transaction is still dependent on securing final approval from the antitrust authorities. The parties have agreed not to disclose the purchase price.
EMT is operating in the development, production, and maintenance of unarmed tactical airborne reconnaissance systems. Its most important customer is the German Armed Forces, which are currently introducing the newly developed LUNA NG reconnaissance system. LUNA NG is a key element in networked communications and reconnaissance (C4ISTAR) and is destined to play a vital role in tactical data transmission. At its four sites in Penzberg, Abenberg, Iffeldorf, and Osterrönfeld, the company employs some 200 people. EMT has been in insolvency in self-administration since December 2020 and had organized the sale as part of a “dual track” process – a structured investor process with an alternative insolvency plan procedure.
With this transaction, Rheinmetall group is expanding its position as a systems supplier for the armed forces along military requirements and complements its portfolio. For military customers, the takeover means long-term support, maintenance, and development of the high-performance LUNA NG system.
With over 25,000 employees worldwide, publicly listed Rheinmetall AG is operating in various markets with an innovative range of products and services. It is a renowned development partner and direct supplier to the global automotive industry and a leading international systems firm for security technology.
Counsel to Rheinmetall
Heuking Kühn Lüer Wojtek:
Dr. Johan Schneider (Lead, Restructuring/Distressed M&A), Hamburg
David Loszynski (Restructuring/Insolvency), Hamburg
Dr. Stefan Bretthauer (Antitrust), Hamburg
Dr. Johan-Michel Menke (Employment), Hamburg
Fabian G. Gaffron (Tax), Hamburg
Dr. Sönke Görgens (Real Estate), Hamburg
Dr. Anton Horn (Patent Law), Düsseldorf
Dr. Hans Markus Wulf (IT and Data Protection), Hamburg
Christian Spintig (IP, Media & Technology), Hamburg
Dr. Christina Küster (Insolvency), Hamburg
Dr. Arietta von Stechow (Employment), Hamburg
Jia-Xi Liu (Antitrust), Hamburg
Marcel Maybaum (IP, Media & Technology), Düsseldorf
