Clifford Chance
Clifford Chance advises insolvency administrator of Endor AG on sale to Corsair
25 September 2024
- Simon Schmid, Tobias Jenne, Stefan Sax, Diana Schoch, Konstantin Kirchner, Benjamin Sibbett, Jack Weymer, Kevin Colan, Bryan Koo, Jacob Kahwaji, Rob Colemeadow, Michihiro Nishi, Shigeto Yamagishi
- Frankfurt, Düsseldorf, New York, Hong Kong, Tokyo
Clifford Chance advises insolvency administrator of Endor AG on sale to Corsair
Clifford Chance has advised the insolvency administrator of Endor AG ("Endor"), Hubert Ampferl of Dr Beck & Partner, on the sale of the Endor business to Corsair.
Endor produces computer/console peripherals and controllers and is based in Landshut in southern Germany. Its FANATEC range focuses on high-end accessories for racing simulators (Sim Racing), including steering wheels, pedals, shifters and cockpits for PlayStation, Xbox and PC.
Endor filed for insolvency on 30 July 2024 following an unsuccessful attempt to restructure the company under the German Corporate Stabilisation and Restructuring Act (StaRUG). Hubert Ampferl was then appointed to act as provisional insolvency administrator and, once insolvency proceedings had been instituted on 13 September 2024, as the company's insolvency administrator.
Corsair (Nasdaq: CRSR) is a US market leader in high-performance equipment and technology for gamers, content creators and PC enthusiasts. It submitted the leading bid during the international investor process and subsequently acquired Endor's business operations as part of an asset deal and its international subsidiaries as part of a share deal. All Endor staff will be retained and the company will continue to be based in Landshut.
The Clifford Chance team in Germany comprised partner Simon Schmid and associate Tobias Jenne (both Corporate, Dusseldorf), partner Stefan Sax, counsel Diana Schoch and associate Konstantin Kirchner (all Restructuring, Frankfurt). Additional advice was provided in the US by partner Benjamin Sibbett and associate Jack Weymer (both Corporate) and partner Kevin Colan (Tax, all New York), in Hong Kong by partner Bryan Koo and trainee solicitor Tracy Cheng (both Corporate), in Sydney by partner Jacob Kahwaji and senior associate Rob Colemeadow (both Corporate) and in Tokyo by partner Michihiro Nishi and qualified lawyer Shigeto Yamagishi (both Corporate).
