Post by TooOld on Apr 22, 2018 8:00:23 GMT -5
I'm posting this for those who may not know what has transpired the last couple of weeks .
I received the following email on April 13th .
There was also the following press release announcing the sale of Hobbico (including Revell USA) to a German investment group :
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“Revell GmbH starts strengthened into future with new owner
Revell GmbH (Germany) announces today that in a court hearing which took place on 13 April 2018 at the US court having jurisdiction in Delaware the sale of Revell GmbH has been confirmed in favor of a company of the international investment group Quantum Capital Partners (QCP) with its company seat in Munich (Germany) as sole shareholder. The sale happened in the course of Hobbico, Inc.‘s restructuring process under Chapter 11.
Bünde, 16 April 2018
For Revell GmbH, which so far belonged to a company of the Hobbico, Inc. group in Champaign (USA) initiating a restructuring process under Chapter 11 of the US bankruptcy code at the turn of the year and announcing its plans to sell the group of companies, a lasting solution in terms of change of ownership emerged throughout this proceedings on 13 April 2018. New sole shareholder of Revell GmbH will be a company from the international investment group Quantum Capital Partners (QCP) in Munich. The operating business will not at all be impaired by this.
German investor as new Revell owner
The sale also includes key assets for the North America business, such as trademarks as well as the extensive tool bank being so important for the plastic model building segment. With the change of ownership Revell experiences a strengthening, as this involves an extension of the sales market and an even wider range of products.
Worldwide business operated from Bünde
The previous management in Bünde under the control of Stefan Krings will in future operate the worldwide business including North America.
„Revell is very happy to have Quantum Capital Partners as strong partner, who will assist the company to reach its further international growth. At this point I like to also thank all trade and business partners for the confidence they have placed in us in the past weeks of interim period”, is the comment from Stefan Krings on this news.
Steffen Görig, representative of QCP further explains: “Revell is a well-known and well- established company and it has shown impressively in the past how to found its position as successful toy brand. We will build on this strength and will further develop the Revell brand with its unique position as provider of model kits and toy manufacturer. We look forward to assist Stefan Krings and his team in that achievement and to realize the full growth potential of Revell.”
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The sale will be Final on May 8th and until then nobody knows what the future of Revell USA will be . So we don't need to be guessing that "this" could happen or "that" might happen , there's enough of that kind of garbage on the other forums . It's a shame this happened but it does happen all of the time in the business world and I'm sure some of us , including myself , have experienced it first hand .
And to Ed Sexton for supporting this board and for directing the reissue of the kits we all love .
"Thanks Ed and best of luck in whatever you do next !"
BOB (aka TooOld)
I received the following email on April 13th .
There was also the following press release announcing the sale of Hobbico (including Revell USA) to a German investment group :
*******************************************************************************************************************************
“Revell GmbH starts strengthened into future with new owner
Revell GmbH (Germany) announces today that in a court hearing which took place on 13 April 2018 at the US court having jurisdiction in Delaware the sale of Revell GmbH has been confirmed in favor of a company of the international investment group Quantum Capital Partners (QCP) with its company seat in Munich (Germany) as sole shareholder. The sale happened in the course of Hobbico, Inc.‘s restructuring process under Chapter 11.
Bünde, 16 April 2018
For Revell GmbH, which so far belonged to a company of the Hobbico, Inc. group in Champaign (USA) initiating a restructuring process under Chapter 11 of the US bankruptcy code at the turn of the year and announcing its plans to sell the group of companies, a lasting solution in terms of change of ownership emerged throughout this proceedings on 13 April 2018. New sole shareholder of Revell GmbH will be a company from the international investment group Quantum Capital Partners (QCP) in Munich. The operating business will not at all be impaired by this.
German investor as new Revell owner
The sale also includes key assets for the North America business, such as trademarks as well as the extensive tool bank being so important for the plastic model building segment. With the change of ownership Revell experiences a strengthening, as this involves an extension of the sales market and an even wider range of products.
Worldwide business operated from Bünde
The previous management in Bünde under the control of Stefan Krings will in future operate the worldwide business including North America.
„Revell is very happy to have Quantum Capital Partners as strong partner, who will assist the company to reach its further international growth. At this point I like to also thank all trade and business partners for the confidence they have placed in us in the past weeks of interim period”, is the comment from Stefan Krings on this news.
Steffen Görig, representative of QCP further explains: “Revell is a well-known and well- established company and it has shown impressively in the past how to found its position as successful toy brand. We will build on this strength and will further develop the Revell brand with its unique position as provider of model kits and toy manufacturer. We look forward to assist Stefan Krings and his team in that achievement and to realize the full growth potential of Revell.”
********************************************************************************************************************************
The sale will be Final on May 8th and until then nobody knows what the future of Revell USA will be . So we don't need to be guessing that "this" could happen or "that" might happen , there's enough of that kind of garbage on the other forums . It's a shame this happened but it does happen all of the time in the business world and I'm sure some of us , including myself , have experienced it first hand .
And to Ed Sexton for supporting this board and for directing the reissue of the kits we all love .
"Thanks Ed and best of luck in whatever you do next !"
BOB (aka TooOld)
