UK asset management firm Alcentra handling Arwe Group restructuring

 “In view of the current uncertainty about developments in the mobility sector, further financing was at risk,” says Arwe Group CEO Ulrich Feißt, and continues “the legal protective umbrella provided by the company's self-administration now provides the appropriate framework to make the restructuring a success despite the difficult environment.”

Alcentra is headquartered in London with offices in New York and Boston as well as representatives in San Francisco, Singapore and Hong Kong. Alcentra has assets under management of $38.8bn as at 31 May 2020 across a range of investment strategies.

Arwe Group is a central mobility service provider. The company’s services group provides mobility services for automobile manufacturers, dealerships and rental car companies. Prior to the opening of insolvency proceedings in March, the group employed a workforce of around 4,000 employees at various companies in a total of 500 locations. Arwe operates in England, France, Spain, Germany and Austria.

A team led by Dr. Stefan Proske, Lawyer and Partner at Heuking Kühn Lüer Wojtek, had already advised ARWE Group on filing for insolvency and on provisional self-administration and is now supporting the insolvency administrator.

A team of Gleiss Lutz lawyers lead by Partners Dr. Matthias Tresselt and Dr. Kai Birke advised internationally operating Direct Lending Fund Alcentra in connection with its activities for the Munich-based Arwe Group, including on the consequences of the coronavirus pandemic, among other things. The team has advised Alcentra on the acquisition of the French and UK subsidiaries.