RiverRock seeks co-investor for Neue Alno

03.05.2021 − 

RiverRock European Capital Partners is looking for a co-investor for Neue Alno. To this end, possible strategic options are currently being examined together with the management composed of Jochen Braun (finance and production) and Michael Spadinger (sales and purchasing). According to the company, it is not yet possible to predict when a conclusion to the current talks can be expected.

RiverRock acquired key assets of insolvent Alno AG on 1 January 2018 within the scope of a transferor rescue operation. The ensuing Neue Alno was realigned through new appointments to various positions and the establishment of sales partners in all relevant target markets. Last spring the kitchen furniture manufacturer additionally axed almost 60 jobs and reduced the number of employees to approximately 240. According to the company, the turnover increase of 62% recorded in the 2020 financial year meant the interim target set by RiverRock was achieved. Absolute turnover figures are not indicated. Further investments are currently planned in the area of IT and in production.

Tags of this news:

previous − Belgium: imports increase for first time in Q4

Natuzzi and TTF plan sales cooperation in Asia  − next