From the Sector

• Pidigi S.p.A. of Verona and a German subsidiary acquire key assets of Sympatex by way of an asset deal  
• 21 jobs and all four apprenticeship positions will be retained at the Unterföhring site 
• Transaction creates significant operational and economic synergies 

In the insolvency proceedings concerning the assets of the Munich-based textile company Sympatex Technologies GmbH, insolvency administrator Axel W. Bierbach of the law firm Müller-Heydenreich Bierbach & Kollegen (Munich) has found a viable solution for the continuation of business operations. The operating business is to be taken over by Pidigi S.p.A. of Verona by way of an asset deal effective June 1, 2026. Pidigi is an owner-managed, internationally active Italian supplier and innovation partner to the footwear, leather goods, and apparel industries, with a market presence spanning more than 70 years. Pidigi develops and markets high-quality materials and sustainable components for industrial applications.  

As part of the asset deal, Pidigi and a German subsidiary are acquiring the core assets of Sympatex and intend to continue business operations under the Sympatex brand. At the Unterföhring site near Munich, 21 jobs and the apprenticeships of all four trainees will be retained. The international locations in France, China, and Hong Kong, as well as the Korean sales office, are also to be continued. As part of the structural realignment, 25 employees at the Unterföhring site will receive notices of termination for operational reasons in the course of May, effective at the end of August. 

To mitigate the economic consequences for the affected employees, a reconciliation of interests and a social plan have been agreed upon. Around 20 employees have already left the company on their own initiative during the preliminary insolvency proceedings. With the transfer of business operations to Pidigi, future operational responsibilities will also be reorganized. Kim Scholze, who took over Sympatex as sole managing director during an extremely challenging phase and guided the company through the insolvency proceedings, will leave the company upon completion of the transaction. 

Basis secured for the continuation of operations at the Unterföhring site 
Insolvency administrator Bierbach described it as particularly encouraging that Sympatex’s Unterföhring site will be retained, thereby laying a crucial foundation for the sustainable continuation of business operations in Germany. He expressly thanked Kim Scholze, the entire workforce, and the works council for their dedication over the past few months. “Under difficult circumstances, Sympatex’s employees and managing director have contributed with a high degree of professionalism, great commitment, and remarkable loyalty to maintaining stable business operations and laying the groundwork for this investor solution,” Bierbach stated. Business operations have been able to continue in full during the three and a half months since the insolvency filing at the end of January 2026.  

“The past few months have demanded an enormous amount from Sympatex’s employees. This makes me all the more filled with respect for how professionally, loyally, and dedicatedly the teams worldwide have supported business operations, customer relationships and key projects during this phase. The fact that an investor solution for the technology, brand, and core business areas has now been achieved is a significant shared success. My special thanks go to all employees, partners, and customers who have supported Sympatex during this time with trust, dedication, and resilience,” said Kim Scholze.  

From the perspective of insolvency administrator Bierbach, Pidigi’s entry has created a viable future for the company. “Given the challenging market environment, which is subject to significant competitive and cost pressures, and Sympatex’s unique corporate history, finding a suitable buyer for Sympatex was a very demanding task. I am all the more pleased that we were able to secure an ideal investor in Pidigi, a company that knows this highly specialized market well and has itself been successfully rooted in the footwear and apparel industry for many decades. Pidigi has a clear vision for and brings excellent operational capabilities as well as deep industry expertise to secure and sustainably develop Sympatex’s international market presence, technological know-how, and established customer relationships,” the insolvency administrator said.

Pidigi has been working with Sympatex for several decades and, as a long-standing distributor in the footwear segment in Italy, possesses comprehensive market knowledge as well as a strong international network in the footwear and apparel industry. In addition, there is a long-standing partnership in the field of tape production. The Italian family-owned business uses Sympatex laminates and membranes, which Pidigi incorporates into its footwear and apparel products. 
This creates significant operational and economic synergy potential throughout the value chain.  

Strong foundation for continued growth and new market opportunities 
For Dr. Giorgio De Gara, owner and managing director of Pidigi, the transaction marks a milestone in the family business’s continued development. “The acquisition of Sympatex is an important strategic step for us, building on a long-standing and trusting partnership. We have known the company, its technologies and the people behind them for many years and are delighted to now welcome Sympatex as part of the Pidigi family. Together, we aim to further develop Sympatex’s international business in a targeted manner – from performance laminates and tapes for footwear applications to technical solutions for the public sector, workwear and apparel markets. By combining Sympatex’s technological expertise with Pidigi’s global market presence and operational strength, we are creating a strong foundation for further growth and new market opportunities. It is important to us to preserve Sympatex’s valuable technological know-how and the Unterföhring site, and to offer employees long-term prospects”, Dr. De Gara said. 

The structured investor sale process was supported by an experienced team of advisers. On the M&A side, the insolvency administrator was advised by Dr. Wieselhuber & Partner (W&P). Led by Dr. Hubertus Bartelheimer, M&A specialists Ante Jelavic and Thomas Müller oversaw the entire transaction process. Legal advice to the insolvency administrator was provided by Taylor Wessing Germany, led by Dr. Hendrik Boss and Lisa K. Iwersen, LL.M. (Stellenbosch).