After KTM bankruptcy

Rosenbauer: Longer deadline for Pierer & Mateschitz

KTM founder Stefan Pierer, Red Bull heir Mark Mateschitz and Raiffeisen Upper Austria are to join fire-fighting equipment supplier Rosenbauer.

(Bild: Krone KREATIV/Rosenbauer International, IV OÖ/Pelzl, APA-PictureDesk, Horst Einöder)

The capital increase of the Upper Austrian firefighting equipment manufacturer Rosenbauer, which was conditional for this calendar year in the summer, has been given an extension. A consortium comprising KTM founder Stefan Pierer, Red Bull heir Mark Mateschitz and Raiffeisen Upper Austria is to participate. Pierer's company complex has recently suffered billions in bankruptcies, and creditor representatives say he must contribute to the restructuring. The deadline is now February 28, 2025.

Rosenbauer is suspending balance sheet requirements and conditions for the capital increase for the 2024 balance sheet, according to a company statement on Friday evening. Rosenbauer CEO Sebastian Wolf recently reassured the "OÖN" newspaper that the "transaction is under wraps". A Pierer spokesman also said that everything was on track. Due to a low equity ratio of 14 percent, the capital increase is significant for Rosenbauer.

Comprehensive refinancing
According to the company, the capital increase provides for "comprehensive refinancing by November 3, 2025". Rosenbauer had only recently announced that the condition for implementation was to be extended this year. The agreement with the main lenders and promissory note loan creditors, i.e. Pierer, Mateschitz and Raiffeisen Oberösterreich, has now been reached, it was reported on Friday evening.

Consortium to ultimately hold majority stake in Rosenbauer
The Robau consortium, in which the buyers are united, ultimately wants to hold 50.1 percent of the Rosenbauer shares. The plans were made public at the beginning of August. Specifically, Robau is to buy a 25.15 percent stake from Rosenbauer Beteiligungsverwaltung GmbH (BVG), which currently still holds 51 percent of Rosenbauer. In June, Robau also undertook to buy 3.4 million new shares for 35 euros each as part of a capital increase.

As announced in August, the consortium intends to appoint new members to the Supervisory Board if the transactions are successfully completed. Subject to election by the Annual General Meeting, Pierer, Mateschitz, Friedrich Roithner and Gernot Hofer are to join the board. Stefan Wagner is to remain on the Supervisory Board. Following the KTM bankruptcies - the companies are to be restructured - Pierer is no longer actively exercising the function of President of the Federation of Austrian Industries (IV) Upper Austria, for example, with deputies taking over in the remaining term of office.