WIGGENtech takes over the specialist for grease nipples and lubrication technology UMETA

“Global market leader from NRW is rescued: “spectacular insolvency” after almost 100 years”

The existential crisis of the long-established Bielefeld-based company UMETA has come to a happy end: After the insolvency of the leading global supplier of lubrication technology, which was founded in 1926, made headlines across Germany in December 2023, WIGGENtech GmbH has now taken over the company. The majority of jobs will be retained.

The new company operates under the name UMETA Germany GmbH & Co. The old UMETA Hermann Ulrichskötter Metallwarenfabrik GmbH & Co KG filed for insolvency on December 5, 2023, after sales had plummeted in 2023. The insolvency administrator appointed by Bielefeld Local Court, Dr. Yorck Tilman Streitbörger, stabilized sales and ended short-time working. Business was successfully continued for more than six months during the ongoing insolvency proceedings. In the search for an investor, Streitbörger initiated a merger & acquisition process. After intensive negotiations, three potential buyers were shortlisted.

With the approval of the creditors’ committee, the insolvency administrator decided in favor of WIGGENtech GmbH from Lippstadt. The long-term planning investor has not only acquired the operating company, but also the property in Bielefeld-Ummeln. As a result of the transferring restructuring, 79 of the original 87 jobs at UMETA will be retained. A rescue company is in place for employees who have left the company.

UMETA’s customers include some of the world’s leading names in mechanical engineering and commercial vehicle construction. The company’s “Made in Bielefeld” grease nipples in particular enjoy an excellent reputation worldwide.

The owner and Managing Director of WIGGENtech GmbH, Dr. Michael Wiggen, will take over the management of UMETA on July 1, 2024.

“In Dr. Michael Wiggen,” says Streitbörger, “we have found a top solution for UMETA.” The entrepreneur is “an excellent industry expert with many years of experience.” Dr. Wiggen explained: “UMETA has great products that complement WIGGENtech’s range in terms of technology and production very well. In addition, we expect UMETA’s international sales network to generate sales growth for both companies. Dr. Wiggen praises the motivation and commitment of the UMETA workforce. “The entire team welcomed us with open arms. We are already looking forward to celebrating UMETA’s 100th anniversary together in two years’ time.”

The outgoing Managing Director of UMETA, Frank Maser – grandson of the company founder – will take over the distribution of UMETA products in North America as an external contractual partner. UMETA of America, Inc. was not affected by the insolvency of the German parent company.

Author of the aforementioned press article: Dr. Wolfgang Streitbörger

Further press articles under:

https://www.wa.de/nordrhein-westfalen/insolvenz-familienbetrieb-nrw-100-jahren-weltmarktfuehrer-bielefeld-uebernahme-rettung-93163421.html

https://www.msn.com/de-de/finanzen/top-stories/spektakul%C3%A4re-insolvenz-nach-fast-100-jahren-weltmarktf%C3%BChrer-aus-nrw-wird-gerettet/ar-BB1pgyqR?ocid=finance-verthp-feeds

https://www.derpatriot.de/artikel//wiggen-tech-waechst-lippstaedter-betrieb-uebernimmt-umeta-in-bielefeld.html.