Reference project in the marketing/illumination sector

WINTERGERST accompanies the sale of Westiform Germany GmbH to the Joseph Group

Westiform Germany GmbH based in Ortenberg, Baden-Württemberg, is specialized in the production of branded illuminated advertising elements and challenging large-format advertising installations. In addition, Westiform, with its workforce of more than 100 employees, manufactures technical plastic parts for the consumer goods and the caravan industries.

Sell-side distressed M&A
EUR > 20 million
2020 – 2022


As a result of the sustained headwinds sweeping the market in the wake of the corona crisis and the resulting burdens for the illuminated advertising industry coupled with the financial liabilities arising from the acquisition financing, Westiform slipped into a liquidity and profitability crisis and applied for insolvency protection.


Due to the ensuing insolvency, Westiform was confronted with a higher degree of customer attrition and employee churn, resulting in human resources bottlenecks and a loss of expertise. Consequently, a new investor had to be found quickly to resolve the situation. Group affiliation and carve-out issues that needed to be quickly addressed complicated the investor process, as did the difficulties posed by the company’s data situation.


In the course of an international investor search, a number of potential investors were quickly identified and addressed by Wintergerst. Strict project management enabled Wintergerst to obtain and process the data and information necessary for the investor process. A suitable investor was found for Westiform Germany GmbH in the Joseph Group from Dubai (UAE), that took over all the assets and the entire workforce as the transaction gave it an opportunity to break into the European market.

„With the Joseph Group we have managed to win an attractive investor and can now add the strengths of Westiform Germany GmbH to a global leader in the field so that we can jointly tap into the German and European market. We are happy that the team from Wintergerst supported us in such a professional and trusting manner and greatly appreciate their input.“

Matthias Kühne
Member of the management of Westiform Germany GmbH