Noerr advises syndicate of banks on turnaround and acquisition of Sprick Group from insolvency

A team from Noerr headed by Dorothee Prosteder, Andreas Naujoks and Dorian Legel has advised a syndicate of banks on successfully restructuring financing for the Sprick Group and the company’s subsequent insolvency proceedings. The Tri Star Group is acquiring the Polish business operations of the bicycle manufacturer, which is based in the North Rhine-Westphalian city of Gütersloh, in connection with the insolvency of Sprick Cycle GmbH and Sprick Rowery Sp. z o.o.

The investor is acquiring the Polish company under the German insolvency plan, which the banks and all other creditors had approved in advance. As part of the transaction, Tri Star is also taking over the entire workforce. Bielefeld Local Court, which has jurisdiction owing to it being situated at the centre of main interest (COMI) under the European Insolvency Regulation, set aside the insolvency proceedings on 12 February 2026.

The Chinese Tri Star Group is a subsidiary of Singapore-based DuTech Holdings Ltd, a global provider of security and green mobility products. Following the acquisition, Sprick is to act as a “full supply chain provider”.

Advisors to the banks: Noerr

Lead: Dorothee Prosteder (partner, Restructuring & Insolvency, Munich), Andreas Naujoks (partner), Dorian Legel (partner, both Banking & Finance, both Frankfurt)

Banking & Finance: Kevin Brühl (senior associate), Selena Nastvogel (senior associate, all Frankfurt)

Restructuring & Insolvency: Patrick Ernst (senior associate, Munich), Musab Cavunmirza (associate, Hamburg)