Investor joins the Hülsta owner
With Dr. Thomas Knecht gets the Hüls Group a new, true-to-business entrepreneur. Knecht, who last successfully restructured the logistics company Hellmann Worldwide, becomes the largest single shareholder of the Hüls Group through a management buy-in. At the same time, he will also assume the duties of Paul Jähn as CEO of the Hüls Group. The corresponding contracts were signed on 9 August 2019, and the usual conditions precedent are to be fulfilled at short notice. According to a press release of the Hüls Group, the contracting parties have agreed to remain silent about the purchase price. However, the premium brand Hülsta should also be further developed under the new owner.
"With Dr. Hülsta has now found the strategic partner in an intensive selection process after extensive consultations with various interested industry and financial investors, who wants to develop the premium brand hülsta in a committed manner, "explains Ludwig Hüls for the family shareholders. Paul Jähn, who is responsible for his area of responsibility and responsibilities as CEO. Thomas C. Knecht, had announced in autumn 2018 talks with potential cooperation partners. These should be able to provide further impulses for the permanent innovation of the business model. According to the company, this new structure enables the Hüls Group to tap further growth potential and also to accelerate its internationalization.
The future CEO Knecht worked for many years as a senior partner in the management consultancy Roland Berger in the worldwide restructuring and is the publisher of the book "Manual Restructuring". He is regarded as a true restructuring expert and is already preparing for the upcoming tasks with the management team. "I am firmly convinced of the potential and the appeal of the Hülsta brand, and as a team we will be responsible for the next stages of development and growth ourselves," says Knecht.