Niro Petersen from Flensburg has been rescued. After filing for insolvency in August this year, a private investor has now taken over the business. Nothing will change for customers, and the 17 employees will also be kept on in full. The company, which produces directly on the banks of the Flensburg Fjord, had run into financial difficulties after the Baltic Sea flooding in October 2023. However, insolvency administrator Arno Doebert had been confident from the outset that the company would be rescued. This hope has now been realised and the specialist for stainless steel fittings for yachts and boats can continue under a new name.
Storm surge triggers the crisis
The Baltic Sea storm surge in October 2023 hit the company hard. Particularly bitter: owner and Managing Director Marcel Crusius had only taken over the business from the family of company founder Gerd Niro Petersen (1939-2014) a year before the natural disaster. Crusius had taken out large loans for the takeover and invested in the business. When the storm surge hit, he was not yet able to build up sufficient reserves for bad times. The destruction of a machine that had just been purchased by the flood weighed particularly heavily. As a result, major customers cancelled their orders due to delivery delays, which further exacerbated the financial situation.
It was not only the storm surge damage that got the company into difficulties. Insolvency administrator Arno Doebert cited the drop in demand for pleasure boats as another reason for the insolvency. In addition, a firmly planned major order from the megayacht sector had been delayed. The high competitive pressure from Asian suppliers of series-produced yachts also put pressure on the traditional Flensburg-based company. Despite these challenges, Doebert was optimistic from the outset: in view of the high level of craftsmanship of the employees, he was confident that the company could be rescued - for example by bringing in an external investor.
Private investor secures continued existence
This hope has now been realised. According to Marcel Crusius, the investor is not another company from the shipbuilding industry, but a private individual who can raise the necessary capital. He himself remains on site as managing director, but is no longer the owner of the company.
New start under a new name
In future, the company will operate under the name "Niro Petersen Heritage GmbH". The location on Brauereiweg in Flensburg will remain the same, and the company will continue to stand for precision and innovation in the field of stainless steel fittings for yachts and boats. The product range extends from cleats and railings to customised solutions for shipyards and private customers worldwide. The aim is to further expand the company and strategically extend the product range in order to consolidate its market position and tap into new growth areas.
