The motorcycle industry is struggling right now – we know this – and some companies are struggling more than others. Fortunately for adventure outfitter, Touratech, there is still light at the end of the tunnel as the company has signed agreements with German company, Happich GmbH, to help keep it afloat.
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December 14, 2018 ? Adventure motorcycle accessory pioneer, Touratech-AG, signed an agreement with German Investor, Happich GmbH earlier this week. The deal is set to commence in the coming weeks, giving Touratech a new beginning on January 1, 2018.
In August, Touratech-AG entered into a financial reorganization using the German insolvency laws to protect the company from creditors. The process is similar to a Chapter 11 reorganization in the USA. As a part of this effort, production has been 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.
Happich GmbH plans to continue the current busi...