PRESS RELEASE
capricorn wins bid for Nürburgring
- Operative business to be continued with racing, events and hotel operations - Nürburgring to be developed and expanded into an Automotive Technology Cluster - Bid persuaded the creditors’ committee - capricorn acquires assets and business operations
on 1 January 2015 - Concept considers interests of the region - Transaction volume in excess of EUR 100m - Up to EUR 25m to be invested in further
development of the Nürburgring Nuremburg/Koblenz, 11.03.2014. Following intensive and constructive negotiations, the race for
the Nürburgring has been decided: Prof. Dr. Thomas B. Schmidt, the managing director in charge of
the restructuring process, and the insolvency monitor, Jens Lieser, have now sold all assets of the
historic Nürburgring after a Europe-wide investor process lasting many months. They have been
acquired by the newly established capricorn NÜRBURGRING GmbH, whose managing directors are
Dr. Robertino Wild and Adam Osieka. The capricorn GROUP to which the new buyer belongs is a
medium-sized business that has its roots in motor sport and provides products and services for the
automotive and aviation sectors through the development of innovative materials and technologies
at several sites across Europe.
The buyer will take over and continue to run the business operations of the Nürburgring, with its
numerous motor races, music events, tourist and test drives as well as the hotels and holiday
facilities. The business strategy of the bidder is that the capricorn GROUP will develop and expand
the Nürburgring into an Automotive Technology Cluster. This new approach goes well beyond pure
motor sport and offers the prospect of further jobs in the region.
The company opened a production plant in the immediate vicinity of the Nürburgring as long ago as
2002, since when it has been continually expanded. This success is now to stimulate the further
expansion of the Nürburgring and create high-quality jobs in the region through the formation of
networks with universities and colleges and leading companies in the automotive sector. “We had
two excellent offers that were presented to the creditors’ committee. Finally they opted for the offer
that delivered the highest purchase price and good prospects for the region”, said insolvency
monitor Jens Lieser, explaining the decision and consent of the creditors’ committee for the bidder
capricorn NÜRBURGRING GmbH.
The transaction volume is in excess of EUR 100m, of which EUR 25m is earmarked for investment
in the expansion of the Nürburgring and its periphery as well as the creation of a new Automotive
Technology Cluster. “Some 20 months after the insolvency application, the time of uncertainty for
the Nürburgring, motor sport fans, the automotive industry, event organisers, employees and the
region is over. We can now look ahead because we have clarity and a real perspective”, said Dr.
Schmidt, who as managing director is in charge of the restructuring.
The buyer will take over the assets of Nürburgring GmbH on 1 January 2015, which means that
Nürburgring Betriebsgesellschaft mbH will continue to run business operations in the current 2014
season. It has a right of withdrawal in the event that the European Commission takes legal action
against it for possible recovery of state aid. The restructuring experts are confident that the
European Commission will confirm that the investor process was carried out properly and that the
buyer will not therefore be liable to repay any state aid. “As an enthusiastic motor sport fan, the Nürburgring has always been a passion of mine. We have
identified the enormous potential of this unique race venue and would like to optimise the existing
structures, but above all turn the vision of an Automotive Technology Cluster into reality”, said Dr.
Robertino Wild, managing partner of the capricorn GROUP. This concept gives the region lasting
prospects for the future and offers people the chance of high-quality jobs. “Responsibility for local
people and safeguarding the interests of the region are key to sustainable success. They are the
foundation for the new economic prospects of the Nürburgring. If the Nürburgring does well, then the
people in the region also do well”, said Adam Osieka as managing director. The existing contacts
with universities and colleges and leading businesses in the car and automotive sectors are to be
successively exploited for the expansion of the technology centre.
To achieve its goals, the buyer will need to make significant structural changes to the Nürburgring.
Among these are the plans for the ring°racer to be shut down, while the Eifeldorf ‘Grüne Hölle’ will
be replaced by the proposed Automotive Technology Cluster. Alongside an essential revamp of
organisational structures, the ring°card is also to be dispensed with.
Meanwhile, the 2014 season promises to be a complete success for the Nürburgring. All events will
be held as planned. The race calendar for this year is already fully booked and a whole raft of highly
attractive public events will take place. About Prof. Dr. jur. Dr. phil. Thomas B. Schmidt Attorney Thomas B. Schmidt is a specialist in labour and insolvency law and a partner of the Trierbased law firm König Rechtsanwälte, one of the leading commercial law practices in the state of
Rhineland-Palatinate. Prof. Schmidt has been an insolvency administrator since 1997 and is a
recognised expert in insolvency plan proceedings and reorganisations. He also specialises in
human resources restructuring. He is an honorary professor at the University of Applied Sciences
in Trier, where he has lectured in commercial and insolvency law since 2002.
More information can be found at: www.thomasbschmidt.de
About Jens Lieser
Attorney and insolvency administrator Jens Lieser is a partner of highly regarded pan-regional law
firm LIESER Rechtsanwälte. Jens Lieser, who is also a specialist in insolvency law, has made a
name for himself since 1994 with the restructuring and continuation of many businesses as going
concerns and in preserving jobs. As a law firm, LIESER has been one of the leading insolvency
specialists in Germany for almost 50 years. In addition to its headquarters in Koblenz, it also has
offices in Trier and Mainz, among other places. LIESER has demonstrated its experience and
expertise in more than 3,000 insolvency proceedings involving companies of a range of sizes and
industries.
More information can be found at: www.lieser-rechtsanwaelte.de About the capricorn GROUP and Dr. Robertino Wild
The capricorn GROUP, which has been in existence for more than 30 years, is an international
group of companies focused on innovative fields of activity in the automotive, technology and
property development sectors. It is owned by Dr. Robertino Wild, who has himself been committed
to the Nürburgring through his group for more than 15 years and traces his roots back to the Eifel
region. He has a passion for both art and motor sport. His fascination for technology and motor
racing brought him success in traditional motor sport series, including as winner of the Ferrari
Challenge 2000. He grew up in Italy and Düsseldorf, later studying in Aachen.
More information can be found at: www.capricorngroup.net
About GetSpeed GmbH & Co KG and Adam Osieka
GetSpeed is a Nürburgring-based motorsports company and an investor in the newly established
capricorn NÜRBURGRING GmbH. GetSpeed’s activities include workshop services, tuning,
coaching and support for race events. GetSpeed also runs innovative projects in conjunction with
leading knowledge centres and industry partners in the field of biomedical technology (stress level
monitoring). Adam Osieka is the managing partner of GetSpeed and also an enthusiastic racing
driver on the Nordschleife. Together with capricorn, GetSpeed sees a very promising future for the
Nürburgring that is to be shaped in close consultation with the region. With capricorn, GetSpeed
shares both very close proximity in the Meuspath industrial park as well as a passion for motor sport
at the Nürburgring.
More information can be found at: www.getspeed.de
Media contact:
Contact for Nürburgring restructuring:
Pietro Nuvoloni and Elke Schmitz
dictum law communications
Zollstockgürtel 63 – 50969 Köln
Phone: +49 221 - 39 760 660
nuvoloni@dictum-law.com
schmitz@dictum-law.com
www.dictum-law.com
Contact for capricorn:
Albert Kock
KL Communications & Consulting
Theodor-Heuss-Ring 23
50668 Cologne
Phone: +49 221 - 77 33 204
kock@kl-pacc.de
www.kl-pacc.de