Restart of Smit Ovens

Smit Ovens in Brabant is a manufacturer of machines for manufacturing solar panels. The company is now called ‘Smit Thermal Solutions’.

The question

At the time, Smit Ovens was an investment of one of the Private Equity parties we assist. The company ran into problems following a setback with an order worth millions, in Japan. Production of the machines for the Asian customer turned out to be more expensive than expected. Bankruptcy seemed unavoidable. It was our job to advise on a restart.

Our approach

We assisted the Private Equity party and management in the restart. As a result, the company was bought back from the receiver. Since then this innovative company has once again shown excellent results.