Deloitte Legal Advises PROMA Group on Acquisition of RECARO Automotive GmbH by Way of Insolvency Plan Proceedings

A Deloitte Legal team led by Hamburg-based restructuring partner Frank Tschentscher provided comprehensive legal advice to the PROMA Group in connection with its acquisition of RECARO Automotive GmbH.

The acquisition was implemented through a multi-step transaction structure, as negotiations in the United States and Japan first had to be concluded. While the operating business and the principal assets were initially acquired pursuant to several Asset Purchase Agreements, the acquisition of the debtor company was carried out through an insolvency plan jointly developed with Holger Blümle of Schultze & Braun, which simultaneously ensured the preservation of the legal entity and the remaining assets.

Following the creditors' unanimous approval of the proposed insolvency plan, the Esslingen Local Court confirmed the plan by order dated 14 September 2026. The court confirmation of the insolvency plan constitutes a significant milestone towards completion of the transaction.

Headquartered in Kirchheim unter Teck, RECARO Automotive GmbH is one of the world's most recognized manufacturers of premium automotive seats. For decades, the RECARO brand has stood for premium quality and innovation and enjoys a particularly strong international reputation in the sports and performance seating segment.

The PROMA Group, headquartered in Italy, is a leading global automotive supplier with annual revenues of approximately EUR 1.1 billion. The group develops and manufactures seat structures, seat mechanisms, body components, and chassis parts at 25 production sites across three continents and employs around 5,000 people worldwide.

Through this transaction, the PROMA Group combines its extensive industrial expertise in the seating sector with one of the most recognized brands in the global automotive industry. The acquisition enables PROMA to further strengthen its position in the global seating market. At the same time, it provides the long-established RECARO brand with a sustainable long-term future as part of an internationally operating industrial group. The transaction therefore creates a platform to unlock the global potential of the RECARO brand by leveraging the PROMA Group’s development, manufacturing, and distribution capabilities worldwide.

Counsel to the PROMA Group:

Deloitte Legal: Frank Tschentscher (Lead-Partner), Torsten Cülter (Partner), Christina Wöste (Associate) - all Corporate Restructuring Group