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December 2006

Lincoln International (Special Situations) exclusively advises on the sale of Ernst Paul Lehmann Patentwerk oHG to the shareholder of Rügensche Kleinbahn GmbH & Co. via MBI


Frankfurt, Dezember 2006 With effective date as of 31 December 2006, the insolvency administrator of Ernst Paul Lehmann Patentwerk oHG (EPL, LGB) has sold the operating business of EPL to the Hermann Schöntag, the main shareholder of Rügensche Kleinbahn GmbH & Co. via a Management-Buy-In (MBI). Lincoln's Special Situations Group acted as exclusive financial advisor to the insolvency administrator and the main creditors of EPL on this transaction.

 

With a history dating back to 1881, the EPL is a leading manufacturer of luxurious, premium-quality large-scale model trains and accessories, serving the German and international markets. Its products are sized on G-scale and sold mainly under the Company's strongly recognized brand name LGB. With a total output of approximately Euro 22m in 2006e, the Company holds a top-3 position in the German market for model trains and holds a market leading position in the large train models segment. As of the filling for insolvency at the end of September 2006, the Company employs a total of 150 staff at its Nuremberg site.  


Throughout the entire process, Lincoln's Special Situations team approached more than 50 relevant investors (strategic investors/ relevant financial investors). Given the limited timeframe for the sales process (max. 2 months in the course of the preliminary insolvency proceedings), Lincoln's Special Situations Group conducted an efficient M&A process including the creation and distribution of relevant sales material (information memorandum), investors approach, accomplishment of management presentations, creation of data room and management of entire due diligence process as well as assisting in negotiations. By creating and maintaining an ongoing bidding competition, an above average valuation for the creditors of LGB and a sustainable insurance of all 150-employment positions at the Company's Nuremberg location could be achieved.


Hermann Schöntag is the owner of the Rügensche Kleinbahn GmbH & Co. (www.rasender-roland.de) and was, until a few months ago, publisher of Germany's largest railroad and model railroading magazine, ModellEisenBahner. Given his outstanding experience with both real railroads and model railroads, Mr. Schöntag offers a wonderful opportunity for the success of Ernst Paul Lehmann Patentwerk to the benefit of both its co-workers and customers. 

About Lincoln International
Lincoln International Group ("Lincoln International") specializes in merger and acquisition services and private capital raising for leading organizations involved in mid-market transactions.  With offices in Chicago, Frankfurt, Los Angeles, New York, and Paris, and strategic partnerships with China Everbright and other partner firms in Asia, Lincoln International has strong local knowledge and contacts in the key global economies.  The organization provides clients with senior-level attention, in-depth industry expertise, and integrated resources.  By being focused and independent, Lincoln International serves its clients without conflicts of interest.  More information about Lincoln International can be obtained at www.lincolninternational.com. 

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