Framepool AG, Munich, acquired by RightSmith Inc., Los Angeles, from insolvency administrator Rolf G. Pohlmann
Rolf G. Pohlmann, lawyer and specialist for insolvency administration at law firm Pohlmann Hofmann Insolvenzverwalter Rechtsanwälte Partnerschaft successfully sold the business operations of the insolvent Framepool AG and secured all jobs of the company in Munich and of their international subsidiaries.
Framepool AG with corporate headquarters in Munich and subsidiaries in Paris, London, New York, and Los Angeles is the leading European provider of high quality rights managed stock footage and has developed a cutting-edge video content database that allows storage, tagging and online retrieval of video shots in high resolution master quality. Since inception in 2001, the company has built a leading database infrastructure and successfully collected footage from more than 800 international contributors of exclusive premium film content. By now, the footage stock comprises nearly one million digitized and catalogued video footage clips distributed to more than 3,500 active customers. Despite the difficult market situation in the film and movie industry the (preliminary) insolvency administrator Rolf G. Pohlmann, supported by the management board and the employees, was able to sustain Framepool’s business operations and to roll out a worldwide, structured M&A process. Globally active RightSmith Group with foreign subsidiaries in Japan, Australia, and UK succeeded in this nine-week sales process. The newly established German subsidiary, “Framepool RS GmbH” assumes Framepool’s business operations with all employees and takes over 95% of the footage portfolio with retrospective effect as of June 1st, 2017. ACXIT Recovery Management was exclusively mandated to assist in the transaction.
About Pohlmann Hofmann Insolvenzverwalter Rechtsanwälte
Pohlmann Hofmann is a German law firm specialized in insolvency administration and serving as the supervisor (debtor-in-possession-cases), especially for reorganization of companies. In Germany, the law firm is one of the leading insolvency administration law offices. With four insolvency administrators, 16 lawyers in a team of in total more than 50 staff members, and with offices in Munich, Augsburg, and Ulm, Pohlmann Hoffmann can handle insolvency and reorganization cases of almost any size anywhere in Germany.
About ACXIT Capital Partners
ACXIT Recovery Management as part of ACXIT Capital Partners is an independent consultancy firm exclusively dedicated to distressed mergers & acquisitions. ACXIT Recovery delivers tailored solutions and transactions for small and medium sized companies as well as for insolvency administrators. The managing partners of ACXIT Recovery were in charge of more than 100 successful transactions in restructuring and insolvency situations over the last eight years.