McDermott Advises Insolvency Administrator Dr. Streitbörger on the Sale of ActionIT
Düsseldorf, June 8, 2017 – The commercial law firm McDermott Will & Emery advised insolvency receiver Dr. Yorck Streitbörger with the sale of ActionIT GmbH to the Swiss Littlebit Technology Group. The acquisition as part of the restructuring process will take effect as per July 1, 2017.
ActionIT GmbH is a leading German IT distributor with annual turnover of 220 million EUR in 2015. In 2016 the long-term successful ActionIT GmbH suffered a liquidity crisis, also due to legal disputes and was forced to file for insolvency.
The acquirer Littlebit Technology Group serves the entire German-speaking territory as an IT distributor with subsidiaries in Zug (CH), Frankfurt (D), Wien (A) and Utrecht (NL). The company represents reputable manufacturers of IT components and peripheral products. Littlebit Technology Group earned turnover of some 360 million CHF in 2016.
Littlebit Technology Group is acquiring ActionIT GmbH through an asset deal, the acquirer company is the newly formed ActionIT Distribution GmbH. All operationally active associates of ActionIT GmbH will be taken over by ActionIT Distribution GmbH and will continue to be at the service of customers and suppliers as contact partners without any changes. Logistical activities of the company group will be streamlined in Frankfurt.
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