#Press Releases

7 July 2025

GLADE MICHEL WIRTZ provided comprehensive legal advice to the consortium of buyers led by lead investor ABACON on the acquisition of the CustomCells Group out of insolvency. The transaction lays the foundation for the long-term continuation of the company at its headquarters in Itzehoe.

CustomCells Group is one of Europe's most innovative suppliers in the development and manufacture of high-performance battery cells for demanding industrial applications. Its customers include companies from the defense and security, aviation, motorsport and mining sectors – NATO system integrators, for example, already purchase qualified cells for the navy. The parties have agreed not to disclose the details of the transaction or the purchase price.

Following the insolvency of air taxi manufacturer Lilium, CustomCells Group's main customer, CustomCells was forced to also file for insolvency in April 2025. Business operations at CustomCells in Itzehoe had been continued in preliminary insolvency proceedings since the end of April 2025 by insolvency administrator Dr Malte Köster (law firm WILLMERKÖSTER) and his team. Insolvency proceedings were opened on 1 July 2025. The sales process was successfully completed just one day later.

In addition to ABACON, other family offices were also involved in the transaction as investors, including SALVIA. The investors' stated goal is to maintain and further develop the established production site in Itzehoe.

GLADE MICHEL WIRTZ (Düsseldorf):

Dr Achim Glade (lead), Dr Marco Sustmann, Dr Jan Hermes (all partners), Dr Jonas Prauß (Associate) – all M&A, Dr Silke Möller (partner, anti-trust law)

GLADE MICHEL WIRTZ, with currently approx. 30 lawyers and a total of approx. 60 legal and non-legal employees, specializes in the areas of Corporate & Competition. In addition to its traditional advisory services, the firm has also made a name for itself in the fields of M&A, litigation and compliance. As a focused boutique law firm, GLADE MICHEL WIRTZ advises, nationally and internationally, companies listed on the DAX, MDAX or TecDAX, medium-sized companies as well as foreign, globally active groups and investors in corporate law, on mergers and acquisitions, on restructuring and reorganization, in cartel fine and merger control proceedings as well as on compliance issues. In the area of litigation, the focus is on resolving conflicts under corporate law, capital markets law and antitrust law.

You can download the press release here.