Livingstone D\u00fcsseldorf\u2019s Special Situations team has advised administrator Dr. Marc d\u2019Avoine on the sale of major assets of Hammerschmiede Hans van Triel GmbH & Co. KG to IPP van Triel GmbH, a subsidiary of International Piping Products (Europe) Ltd.<\/p>
Founded in 1951, van Triel manufactures stainless steel flanges, rings, discs and special forged parts for a wide range of sectors from oil and gas and chemistry to plant and marine technology. The business has been acquired by IPP van Triel GmbH, a subsidiary of International Piping Products (Europe) Ltd, which will continue to develop the business and explore synergies between the two companies. IPP is a leading manufacturer of specialist piping products for the Oil, Gas, Petrochemical and Nuclear industries with annual revenues of \u20ac63m ($69m).<\/p>
\u201cAfter filing for insolvency, it was imperative that an acquirer for the business was found within a very short timeframe \u2013 the transaction was completed in 11 weeks.\u201d<\/em> commented insolvency administrator Dr. Marc d\u2019Avoine from ATN \u2013 d\u2019Avoine Teubler Neu<\/strong>, Wuppertal.<\/p> Jared Ayres, CEO of IPP Group<\/strong>, said, \u201cThis acquisition further cements our place as the leading package supplier to the global energy industry. I am delighted that this makes IPP Group the leading Norsok certified mill in Europe, a distinct advantage for our customers.\u201d<\/em><\/p> \u201cWe are very pleased to have found a strong partner for van Triel, securing the long-term development of the business, and employment for the majority of the workforce.\u201d<\/em> concluded Daniel Hohler, Associate Director at Livingstone D\u00fcsseldorf.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":2795,"template":"","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"client-type":[],"region":[],"sector":[],"service":[],"transaction-type":[],"class_list":["post-5001","transaction","type-transaction","status-publish","has-post-thumbnail","hentry"],"acf":{"team_members":"","date":"20151108","client_type":null,"type":[1079],"region":[1154,1162,1160],"services":[420,423],"sectors":[534],"related_transactions":"","related_testimonials":null,"contacts":""},"yoast_head":"\n