Germany: New investor for insolvent inverter company, Platinum

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A buyer has been found for the insolvent Platinum GmbH, announced liquidator, Holger Leichtle from law firm Schultze & Braun. With effect from December 1, the inverter manufacturer was sold to Linceus GmbH, a subsidiary of SEW Eurodrive GmbH & Co. KG for an undisclosed sum. All remaining 42 employees have been kept on.

Platinum filed for insolvency last March, following financial difficulties. The following August, it announced it would focus solely on R&D of inverter and other power equipment going forward. It also announced job cuts of around 20, from 70, at the time.

In recent months, the company has been working as the exclusive service provider of SEW Eurodrive. This collaboration should now strengthen with the takeover. The settlement of warranty and guarantee claims for the already-sold inverters by Platinum was taken over by former main supplier, Diehl Controls.

Translated and edited from pv magazine Deutschland by Becky Beetz