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GT Restructuring assists second largest German dental supplier Pluradent during successful restructuring

GT Restructuring, the restructuring unit of Greenberg Traurig in Germany, has successfully supported Pluradent in its restructuring process. This was achieved in the course of two parallel debtor-in-possession proceedings for the parent company Pluradent and its logistics subsidiary GLS. Insolvency proceedings were avoided for the other German and foreign subsidiaries of the second largest German dental supplier.

Gordon Geiser from GT Restructuring was appointed as Chief Restructuring Officer of Pluradent. Christian Köhler-Ma, also from GT Restructuring, took over the position of Chief Restructuring Officer at GLS. The insolvency plans were submitted simultaneously in both proceedings and were accepted by the creditors' assemblies today. The companies were also supported in their debtor-in-possession proceedings by the custodians Julia Kappel-Gnirs (hww) and Jutta Rüdlin (BRRS).

The M&A process started immediately after the application was filed at the end of February 2020 and despite the peak phase of the COVID-19 pandemic, numerous parties expressed a serious interest in the group. In close coordination with the creditors' committees and the custodians of both companies, the decision was finally made in favour of the offer by Deutsche Mittelstandsholding (DMH). DMH, based in Frankfurt am Main, plans to implement the new business model developed during Pluradent's self-administration. The investor was legally advised by Grub Brugger Rechtsanwälte (Hans Konrad Schenk) and anchor Rechtsanwälte.

The team of GT Restructuring comprehensively advised Pluradent and GLS Logistik during the debtor-in-possession proceedings and was able to successfully complete the restructuring of the companies in only four months.
About Greenberg Traurig, LLP Greenberg Traurig, LLP (GT) has approximately 2,200 attorneys in 41 locations in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, diversity, and innovation, and is consistently among the largest firms in the U.S. on the Law360 400 and among the Top 20 on the Am Law Global 100. Web: Twitter: @GT_Law.