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Auer Lighting acquires TGI’s `Technical Sight Glasses´ division

Auer Lighting acquires TGI's `Technical Sight Glasses´ division

Auer Lighting GmbH has acquired certain assets assigned to the “Technical Sight Glasses” division of insolvent Technische Glaswerke Ilmenau GmbH (TGI), including the brand “llmadur”. Post acquisition, Auer Lighting will continue manufacturing in Bad Gandersheim, where it is headquartered. Auer Lighting will also continue to sell it’s Technical Sight Glasses under it’s brand Maxos. The acquisition is expected to be completed in November. Auer Lighting GmbH has not disclosed the price of the transaction. Auer Lighting was legally adviced on the acquisition by a team led by Dr. Jörg Schewe, Partner at the commercial law firm of Heuking Kühn Lüer Wojtek.

TGI, which has been in insolvency proceedings since May 9, 2014, is currently managed by Klaus Siemon, insolvency administrator and lawyer, who is very pleased with the sale of the division: “In addition to the proceeds generated by the sale, up to 12 employees have new job opportunities now.”

The acquisition allows Auer Lighting to rapidly expand capacities for the precision treatment of optical glasses. Apart from further stabilizing the German headquarters of Auer Lighting in Bad Gandersheim, Lower Saxony, a “considerably shortened time to respond to customer requests” is the main motivation for the acquisition, said Dr. Dieter Simon, General Manager of Auer Lighting GmbH.

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