New Investor Breathes Life Into Touratech
The motorcycle industry has had it struggles and has seen companies come and go over the years. These past few years have been tough in suppliers of accessories also as some markets shrunk and buying trends changed.
One bit of good news coming out of Germany is that adventure motorcycle accessory pioneer Touratech-AG has signed an agreement with German Investor Happich GmbH in December following the company's earlier insolvency proceedings and a search for new investment. The deal is set to give Touratech a new beginning this New Year.
In August, Touratech-AG entered into a financial reorganization using the German insolvency laws to protect the company from creditors. As a part of this effort, production was streamlined and the product range narrowed to improve output. The company also required an investor to help settle debts with creditors and provide the working capital needed for future operations.
There was interest from investors around the globe and a competitive bidding process was carried out over the last few months under the guidance of a team of consultants and the court appointed Administrator, Dr. Dirk Pehl from Schultze & Braun. Following this process, German company, Happich GmbH rose to the top and signed an agreement to become the sole investor in Touratech-AG beginning January 1, 2018.