Alno

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New Alno

logo
legal form GmbH
founding 1927
Seat Pfullendorf , GermanyGermanyGermany 
management Thomas Kresser,
managing director
Number of employees 320 (September 2018)
sales EUR 522 million ( 2015 )
Branch Kitchen furniture industry
Website www.alno.de
As of October 31, 2017

Typical Alno kitchen of 1980 years

Alno is a brand of Neue Alno GmbH based in Pfullendorf in Baden-Württemberg and a German manufacturer of kitchen furniture . In 2015, Alno was one of the world's largest brands for kitchen furniture with a turnover of 522 million euros and 2100 employees.

After its bankruptcy , Alno, which at that time was still managed by Alno AG, ceased business operations in October 2017. New Alno GmbH was created from parts of the insolvency estate of Alno AG, which resumed furniture production with parts of the old workforce in March 2018.

The owner of the Alno brand and Neue Alno GmbH is the British financial investor RiverRock European Capital Partners.

history

Alno in the 20th century

Alno's roots go back to 1927: Albert Nothdurft (1905–1997) founded a carpenter's workshop in Wangen near Göppingen on January 1, 1927 when he registered as an independent carpenter . At first he worked in his parents' house; later he sold the property and moved into a larger workshop.

After the Second World War , Nothdurft moved to Pfullendorf because there was no building land available in his home community for his expansion plans for the manufacture of kitchen furniture. At the beginning, he already employed 50 people at the local site. In 1958 the name was changed to "Alno Möbelwerke GmbH". The name Alno is made up of the first two letters of his first and last name. Nothdurft was considered a pioneer in the manufacture of kitchen furniture. He created 300 jobs in Pfullendorf; the city experienced a strong economic boom.

Punch card from the 1970s

In the 1960s Alno grew enormously; The turnover rose from 2.5 million euros in 1960 to 35.2 million euros in 1970. The number of employees rose from 95 to 677.

Between 1969 and 1992 Alno founded eight foreign subsidiaries, including Alno France SARL, NV Alno (Belgium), Alno Italia SpA, Alno Iberica, SA, Alno (Schweiz) AG, Alno UK Ltd. and the Alno Nederland. In 1970 the AEG group acquired 51 percent of the shares in Alno Möbelwerke GmbH & Co. KG. Twelve years later, the company broke away from the association with AEG. Between 1990 and 1995 the companies Impuls and Pino were established .

The former Alno Möbelwerke GmbH & Co. KG became a stock corporation in 1995 and went public . The share price was DM 59  . 60.2 percent of the shares remained in the ownership of the Nothdurft family.

After the death of the company's founder Albert Nothdurft in 1997, the company began its ups and downs. In 1999, for the first time in the history of Alno, sales of 500 million DM were made.

The restructuring programs from 2000

Due to high overcapacity, Alno began a restructuring program in 2000. For the first time, the supervisory board appointed a non-family manager, Raimund Denk, as chairman of the board. After two years he was followed by Frank Gebert. Under his leadership, Alno AG merged in 2003 with the Casawell Service Group (Wellmann, Geba, Wellpac), a global group of companies for built-in and portable kitchens and kitchen technology. At the same time, Alno took over Gustav Wellmann KG and from then on concentrated on its core business. A year later, Alno AG realigned the Casawell Group, with the sale of non-kitchen Casawell holdings. With this restructuring, Gebert was able to post a profit of 2.7 million euros for the 2004 financial year. The company continued its course of expansion with the inflow of liquidity. In August 2005 'Alno Middle East' was founded and a production facility opened in Dubai.

From 2006, tried Gebert, realign the corporation: To date was 25.5 percent, the IRE Beteiligungs GmbH, Schorndorf, via the Home Appliances Group Bauknecht of Whirlpool Greater China Inc. , Benton Harbor, Michigan / USA is to you, the largest shareholder. The Hellwig family held around 21.5 percent of the capital, Commerzbank 20.6 percent and the Nothdurft family 12.5 percent. 19.9 percent were in free float. In October 2006, the Munich financial investor German Capital GmbH took over the Commerzbank shares in Alno AG. In December 2006 , 42.1 percent of these were bundled with the Hellwig family's papers in the Küchen Holding GmbH and a voting agreement was previously concluded with IRE Beteiligungs GmbH , with which the voting rights of IRE Beteiligungs GmbH in Alno AG were transferred to Küchen Holding GmbH were transferred. The kitchens Holding GmbH and IRE Beteiligungs GmbH from now formed a consortium of investors.

In 2007 the Supervisory Board elected Georg Kellinghusen as Chairman of the Board of Management. He was responsible for the finance and technology departments. In his first year, he launched a comprehensive restructuring program with immediate measures and long-term restructuring activities. In November 2007 Kellinghusen received the Finance Award CFO of the year . A month later, he announced that he would be leaving 200 employees as part of the restructuring program. At the same time, a capital increase was resolved.

In 2009 Jörg Deisel succeeded Kellinghusen as CEO. Deisel was previously employed as a board member responsible for sales and production in the Alno Group.

The restructuring "Alno 2013"

As part of a realignment of the group entitled “Alno 2013”, the group's headquarters were relocated to Düsseldorf in 2010. After internal differences over the course of the company, Max Müller was elected chairman of the board; In 2011, he moved the company's headquarters back to Pfullendorf. The factory in Bad Salzuflen, which belonged to the subsidiary Gustav Wellmann GmbH & Co KG, was closed. 72 employees who made skirting boards, shelves and other special parts lost their jobs.

Development from 2014

By acquiring the Swiss kitchen manufacturer AFP Küchen AG in 2014, Alno hoped to increase market shares and sales. In order to achieve better capacity utilization in our own plant, production at the new Swiss subsidiary was shut down. 100 employees lost their jobs in Switzerland without a single one being created in Germany.

On June 30, 2015, the Impuls Küchen GmbH plant in Brilon was sold to a subsidiary of the South African Steinhoff Group .

Bankruptcy (2017)

On July 12, 2017, Alno AG filed an application with the Hechingen district court to open insolvency proceedings in self- administration due to insolvency. The other subsidiaries are not affected, with the exception of the two subsidiaries (Gustav Wellmann GmbH & Co. KG and Alno Logistik & Service GmbH). The application was provisionally approved.

Since the end of July 2017, the Swiss subsidiary is Bruno Piatti AG in the provisional moratorium . On September 14, 2017, bankruptcy proceedings were opened against Piatti. Piatti is the largest Swiss kitchen manufacturer, but has been producing at the Alno location in Pfullendorf since 2014. After the parent company's bankruptcy, delivery problems had led to problems for the subsidiary as well.

On August 29, 2017, Alno applied for the self-administration to be lifted. The previous judicially appointed trustee, Martin Hörmann, was then appointed provisional insolvency administrator. The bankruptcy proceedings were opened on October 1, 2017. With retroactive effect from October 1, 2017, pino Küchen GmbH was sold to a group of investors with the participation of Nobilia . On October 26, 2017, the Cartel Office approved the sale. All 229 jobs will be retained. With the Pino sales proceeds, the financial situation of the insolvent Alno Group has eased, which means that no notice of termination had to be given in the parent company - the “workforce should be retained for the time being”. No buyer could be found for the subsidiary Gustav Wellmann GmbH & Co. KG and business operations were discontinued on October 12th with the release of all 400 employees "except for one team for bankruptcy-specific processing tasks".

Since the search for investors was initially unsuccessful, the cessation of business operations was announced on November 24, 2017.

In mid-December 2017, the British investment company RiverRock European Capital Partners took over significant parts of the Alno company, including machines, land and trademark rights, for around 20 million euros. RiverRock, in which Roland Berger and the Egyptian billionaire Naguib Sawiris are also involved, is one of the Alno creditors and had already granted a mass loan of 6 million euros in September 2017 .

Successor company from 2018

In January 2018, Neue Alno GmbH was taken over by the British investment company RiverRock European Capital Partners with Managing Director Andreas Sandmann and Thomas Kresser as CFO.

On January 2, Alno AG announced that the new company Neue Alno GmbH had already signed over 320 contracts with former employees and that production should be resumed in the first quarter of 2018. Neue Alno GmbH expects a total of up to 410 employees.

New Alno GmbH

In December 2017, the bankrupt Alno AG was taken over by the British financial investor RiverRock European Capital Partners

Managing directors

  • 12/2017 to 07/2018: Andreas Sandmann
  • Since 12/2017: Thomas Kresser

Employees In Q3 / 2018 Neue Alno GmbH had around 320 employees at the Pfullendorf location.

Former Alno AG

executive Director
  • 05/2000 to 2002: Raimund Denk
  • 2002 to 2007: Frank Gebert
  • 2007 to 2009: Georg Kellinghusen
  • 2009 to 2011: Jörg Deisel
  • 04/2011 to 05/2017: Max Müller
  • 06/2017 until bankruptcy: Christian Brenner
Employee

At the end of 2015, the Alno group had 2100 employees.

Shareholder structure of the former Alno AG

In January 2010 there were changes in the shareholders of the corporation: IRE Beteiligungs GmbH, which previously held a 19.5 percent stake in the kitchen furniture manufacturer Alno AG, sold 6.2 percent of its shares to Küchen Holding GmbH on December 18, 2009 , so this was able to increase its stake in Alno AG to 67.3 percent. The shares of IRE Beteiligungs GmbH decreased to 12.41 percent. Since the voting rights of IRE Beteiligungs GmbH in Alno AG had already been transferred to Küchen Holding GmbH in 2006 , the purchase of shares was only a matter of shifting the capital shares, because the total share of the investor consortium remained unchanged at 79.7 percent. Previously, on October 23, 2009, Universal Investment GmbH had sold its shares in the Alno Group to the Erste Private Investmentclub Börsebius Zentral (GbR) based in Cologne. Through a share swap , these were transferred from the parent company to the 75 percent subsidiary, ABAG Aktienmarkt Beteiligungs AG . This now held 10.66 percent of the vote. A comparison shows the change in the ratios (as of December 18, 2009): Küchen Holding GmbH: 67.29 percent (previously: 61.1 percent), IRE Beteiligungs GmbH: 12.41 percent (previously: 18.6 percent), ABAG Aktienmarkt Beteiligungs AG: 10.66 percent, free float: 9.64 percent.

As of June 30, 2010, 62.9 percent of the Alno shares belonged to 'Küchen Holding GmbH', 18.6 percent of IRE Beteiligungs GmbH and 9.69 percent of 'ABAG Aktienmarkt Beteiligungs AG', a private investment club. The remaining 8.77 percent of the shares were in free float . As of July 2017, Tahoe Investors GmbH , which belongs to the Prevent group of the Hastor family, held a good 43% of the voting rights and was thus the largest Alno shareholder.

Group structure of the former Alno AG

Brands and locations
The corporate and administrative headquarters of the kitchen furniture group Alno AG was in Pfullendorf. Five brands operated under the umbrella of the group . The market segmentation was carried out in four different price segments and different market positioning :

Group brand Price segment
Alno Alno High price
ALNOinox ALNOinox High price
The Alno AG on Pfullendorf

Alno AG produced the "Alno branded kitchens" in the factories in Pfullendorf.

Former subsidiaries of Alno AG that produce in Germany were:

  • Geba Möbelwerke GmbH in Löhne , Herford district, North Rhine-Westphalia - whereabouts: sale (economic as of January 1, 2007), insolvency (March 8, 2010)
  • wellpac Möbelwerke GmbH in Hiddenhausen , Herford district, North Rhine-Westphalia - whereabouts: sale (economic as of July 1, 2005), insolvency (March 27, 2006)
  • Bruno Piatti AG, Alno relocated production to Pfullendorf. (Bankruptcy September 14, 2017).
  • Gustav Wellmann GmbH & Co.KG in Enger , Herford district , North Rhine-Westphalia ( Alno relocated its main plant there from Pfullendorf) (insolvency, production discontinued December 2017)
  • pino Küchen GmbH in Coswig - Klieken , Wittenberg district , Saxony-Anhalt . Sale retrospectively from October 1, 2017 to a group of investors with Nobilia participation.

Abroad
Alno AG had trading partners in 64 countries. There were separate sales companies for the Swiss, UK and USA markets.

Company development of Alno AG in numbers

The employees in the Alno Group worldwide (number of employees excluding trainees):

year Annual average employees Employees on December 31
1997 2,836 ?
2002 1,867 1,851
2007 2,428 2,314
2008 2.010 1,853
2009 1,885 1,900
2010 1,840 1,787
2011 1,806 1,845
2012 1,856 1.926
2013 1,897 1,875
2014 2,301 2,289
2015 2,199 2,099

The ALNO Group's sales and total assets in EUR million:

year Sales Total assets
1997 456.076 192.125
2002 396.108 181,588
2007 602,218 228.199
2008 511.204 198.243
2009 493,373 165.026
2010 467.297 157.698
2011 452.81 159.67
2012 446.26 168.24
2013 395.056 181.469
2014 545.774 284,546
2015 521.505 290.131

In 2015, Alno AG made 44 percent of its sales in Germany and 56 percent abroad.

Sponsorship

Alno AG was the main sponsor of the regional soccer division SC Pfullendorf until 2008 ; from 2005 to 2008 the Pfullendorfer Waldstadion was called "Alno-Arena". From 2008 to 2010, ALNO AG was the main partner of the German women's national soccer team .

literature

  • Albert Nothdurft: Memories of an Entrepreneur. Self-published, Pfullendorf 1985, OCLC 313567594 .

Web links

Commons : Alno  - collection of images, videos and audio files
  • alno-ag.de - Official website of the insolvent group ALNO AG (for shareholders)
  • alno.de - Official website of the ALNO brand (for customers)

Individual evidence

  1. ↑ a b Annual Report 2015. In: alno-ag.de. April 20, 2016, accessed on November 25, 2017 (PDF; 3.9 MB).
  2. ↑ Alno sophisticated kitchen worlds worldwide. In: From Alno to Zollern - companies in the Sigmaringen district. In: Dirk Gaerte (ed.), Edwin Ernst Weber (conception): The three-country circle Sigmaringen. A guide to nature, economy, history and culture. Gmeiner Verlag, Meßkirch 2007, ISBN 978-3-89977-512-9 , pp. 68-113, here: p. 69.
  3. ↑ With a reduced workforce: Alno is building kitchens again . In: The world . March 26, 2018 ( welt.de [accessed September 26, 2018]).
  4. ↑ Riverrock provides course fireworks at Alno . ( deraktionaer.de [accessed on September 26, 2018]).
  5. ^ Heinz Scholz: Albert Nothdurft - founder of the ALNO works.
  6. ↑ a b c d e Siegfried Volk / siv: A company looks back. In: Südkurier . December 7, 2002.
  7. ↑ Knaurs Weltspiegel. 1984 (= Knaur. 7658). Droemer, Munich 1983, ISBN 3-426-07658-6 .
  8. ↑ Milestones of Alno AG ( Memento from May 14, 2010 in the Internet Archive ). In: alno.ag, accessed on July 31, 2018.
  9. ↑ Küchen Holding strives for a majority in Alno. In: Wirtschaftswoche . October 16, 2006.
  10. ^ Siegfried Volk: Every fifth job at Alno is gone. In: Südkurier. December 14, 2007.
  11. ↑ Siegfried Volk: Georg Kellinghusen is leaving early on June 1st - Jörg Deisel is the successor. Alno boss leaves the boardroom. In: Südkurier. May 28, 2009.
  12. ^ Siegfried Volk: Change at the top. New boss at Alno. In: Südkurier. May 28, 2009.
  13. ↑ a b Half-year report 2010 of Alno AG. In: alno-ag.de, accessed on July 31, 2018 ( PDF; 878 kB ).
  14. ^ Siegfried Volk: Alno administration back in Pfullendorf ( Memento from March 5, 2016 in the Internet Archive ). In: suedkurier.de, accessed on November 25, 2017.
  15. ↑ Wellmann workforce resists the removal of the machines. In: Lippische Landeszeitung . February 4, 2014, accessed November 25, 2017.
  16. ↑ Piatti production moves to Pfullendorf. In: moebelkultur.de. June 13, 2014, accessed November 25, 2017.
  17. ↑ ALNO AG: ALNO AG sells Impuls Küchen GmbH to Steinhoff Möbel Holding AG. In: equitystory.com. May 30, 2015. Retrieved November 25, 2017.
  18. ↑ Martin Hock: Alno files for bankruptcy. In: faz.net. July 12, 2017. Retrieved November 25, 2017.
  19. ↑ Kitchen manufacturer. Alno files for bankruptcy. In: handelsblatt.com. July 11, 2017. Retrieved November 25, 2017.
  20. ↑ Pfullendorfer Alno AG files for bankruptcy. In: suedkurier.de. July 11, 2017. Retrieved November 25, 2017.
  21. ↑ Kitchen manufacturer. For the time being, Alno is allowed to renovate itself. In: handelsblatt.com. July 13, 2017. Retrieved November 25, 2017.
  22. ↑ a b Hechingen Local Court - Insolvency Court: Insolvency proceedings over the assets of ALNO Aktiengesellschaft. 10 IN 93/17 ( Memento from January 12, 2018 in the web archive archive.today ). In: insolvenzwohlmachungen.de. October 1, 2017, accessed January 12, 2018.
  23. ↑ Pino kitchens. Sale to a group of investors with the participation of Nobilia. In: moebelmarkt.de. Verlag Matthias Ritthammer, October 4, 2017, accessed on August 23, 2018 .
  24. ^ Pino kitchens in Coswig. Bundeskartellamt approves sale. In: mz-web.de, Mitteldeutsche Zeitung , October 26, 2017, accessed on January 7, 2018.
  25. ↑ pino kitchens sold to a group of investors with the participation of nobilia. (PDF; 257 kB) Press release from Alno AG. In: anchor.eu, October 4, 2017, accessed January 7, 2018.
  26. ↑ Oliver Horst: Alno sales in individual parts. Insolvency administrator confirmed: Kitchen manufacturer Nobilia from Verl acquires Pino with partners. In: westfalen-blatt.de. Westfalen-Blatt , October 5, 2017, accessed on January 7, 2018.
  27. ↑ Wellmann employees are released. (PDF; 249 kB) Press release from Alno AG. In: alno-ag.de, October 12, 2017, accessed on January 7, 2018.
  28. ↑ Mareike Patock: Insolvency: Kitchen manufacturer Wellmann releases 400 employees in Enger. In: nw.de, Neue Westfälische , October 12, 2017, accessed on January 7, 2017 (as of October 25, 2017).
  29. ↑ ALNO AG: Ad hoc releases. In: alno-ag.de. Retrieved November 24, 2017 .
  30. ↑ Insolvent kitchen manufacturer Alno at the end. "A disaster for Pfullendorf". In: swr.de. November 24, 2017. Retrieved November 25, 2017.
  31. ↑ beb / dpa-AFX: Insolvent kitchen builder . Alno plans to resume production. In: spiegel.de. January 2, 2018, accessed January 2, 2018.
  32. ↑ Michael Ashelm: Riverrock is behind millions of loans to insolvent Alno. In: faz.net. September 29, 2017, accessed January 2, 2018.
  33. ↑ suedkurier.de .
  34. ↑ Thomas Kresser becomes CFO at Alno . In: Swabian . ( schwaebische.de [accessed on September 26, 2018]).
  35. ↑ onvista.de (accessed on January 7, 2018).
  36. ↑ manager-magazin.de
  37. ↑ Kitchen manufacturer rescued: Alno takeover by Riverrock in dry hands. Retrieved September 26, 2018 .
  38. ^ Alno: Investigations against Andreas Sandmann and Christian Brenner . In: Manager Magazin . ( manager-magazin.de [accessed on September 26, 2018]).
  39. ↑ a b A bang at ALNO: CEO Müller quits. BondGuide, May 29, 2017, accessed June 6, 2017 .
  40. ^ Siegfried Volk: Shares bought. In: Südkurier. January 22, 2010.
  41. ^ Siegfried Volk: Alno shares: sell shareholders. In: Südkurier. January 14, 2010.
  42. ^ Alno: A shareholder got out. (No longer available online.) In: moebelkultur.de. Ferdinand Holzmann Verlag GmbH, November 5, 2009, archived from the original on January 22, 2010 ; accessed on August 23, 2018 .
  43. ^ Alno: New shareholder in the pool. (No longer available online.) In: moebelkultur.de. Ferdinand Holzmann Verlag GmbH, January 11, 2010, archived from the original on January 15, 2010 ; accessed on August 23, 2018 .
  44. ^ Alno: Shifting the majority of shares. (No longer available online.) In: moebelkultur.de. Ferdinand Holzmann Verlag GmbH, January 21, 2010, archived from the original on January 25, 2010 ; accessed on August 23, 2018 .
  45. ^ Tahoe Investors. Public notices. In: tahoe-investors.com, December 2016, accessed November 25, 2017.
  46. ↑ Information on the shareholder structure on the ALNO AG website. In: alno-ag.de. August 17, 2017, accessed January 2, 2018.
  47. ↑ ALNO AG: BRAND WORLD. (No longer available online.) In: alno-ag.de. Archived from the original on February 17, 2017 ; accessed on August 23, 2018 .
  48. ↑ Sebastian Pantel / sep: The Alno Group. In: Südkurier. December 15, 2010.
  49. ↑ Alno_Factsheet_171110_d.indd ( Memento from December 8, 2015 in the Internet Archive ). In: alno.ag. November 17, 2010, accessed on November 25, 2017 (PDF; 1.2 MB; press release from Alno AG).
  50. ^ Siegfried Volk: 22 hectares of Alno for sale. In: Südkurier. October 9, 2010.
  51. ↑ a b Annual Report 2015, p. 36 ( online ).
  52. ↑ a b c Annual Report 1999. p. 2 ( PDF; 3.8 MB ).
  53. ↑ a b c Annual Report 2002. P. 3 ( PDF; 1.7 MB ).
  54. ↑ Annual Report 2002. p. 36 ( PDF; 1.7 MB ).
  55. ↑ a b c d e f g h i j k l Annual Report 2009. p. 4 ( PDF; 4.6 MB ).
  56. ↑ a b c d e f g h Annual Report 2011 ( PDF; 4.8 MB ).
  57. ↑ a b Annual Report 2012 ( PDF; 1.5 MB ).
  58. ↑ Press release: Main partner women's national teams Alno. In: dfb.de. German Football Association , October 20, 2017, accessed November 25, 2017.