Reference project in the plastics processing sector
WINTERGERST assists the sale of DUROtherm Group to swissplast AG
The DUROtherm Group is a long-established thermoforming specialist with a broad technological base and production facilities in Germany, the Czech Republic, and Switzerland. The company boasts long-standing customer relationships, a modern machine park, and expertise in single-sheet, twin-sheet, PUR/RIM, and CNC post-processing.
Distressed M&A
EUR > 45 million
2026
Plastic processing
Baseline
The DUROtherm Group is a long-established thermoforming specialist with a broad technological portfolio and production facilities in Germany, the Czech Republic, and Switzerland. The company boasts long-standing customer relationships, a modern machine park, and expertise in single-sheet, twin-sheet, PUR/RIM, and CNC post-processing. Despite its strong technological positioning and attractive target markets—particularly in aviation, rail, commercial vehicles, and specialty applications—the Group found itself in financial distress due to declining demand in certain market segments, operational integration issues, and increasing liquidity pressures.
Challenge
The investor process had to be structured under significant time and transaction pressures. The combination of a complex group structure, varying corporate and procedural statuses, and multiple locations presented particular challenges. From an operational perspective, the focus was specifically on the integration of the Lindlar site, weaknesses in ERP and master data quality, limited transparency regarding earnings and profitability, logistical shortcomings, and unclear roles and leadership structures.
Solution
WINTERGERST structured a focused distressed M&A process that clearly articulated the industrial equity story and targeted specific prospects. The focus was on continuing the core operating business, securing key customer relationships, assets, and expertise, and transitioning the relevant business activities into a sustainable new ownership structure. With swissplast AG, a strategic investor was secured that has close ties to the industry and is creating the conditions necessary for the stabilization and further development of the locations.
„DUROtherm is a long-established company with a high level of technical expertise, dedicated employees, and long-standing customer relationships. It was clear to us from the very beginning that this is not just about production capacity, but about responsibility toward people, customers, and an entire industry..”
Barac Bieri and Ninyan Bieri
Shareholders of swissplast AG