Dutech Holdings Limited (SGX:CZ4) and Tri Star Security Pte. Ltd. entered into a purchase and transfer agreement to acquire the retail & logistics and public transport business units and Metric Group Holdings Ltd from Metric Mobility Solutions AG (XTRA:HWS) respectively for €2.9 million on September 29, 2016. Dutech Holdings will retain over 125 jobs at the Hanover location and no business units remain with Metric Mobility Solutions.

Tri Star Security Pte. Ltd will employ around 170 additional METRIC employees. The deal will be funded by internal resources of Dutech Holdings.

The purchased assets of Metric Germany and will operate under the brand name of “Almex”. The completion of the purchase agreement depends on the fulfillment of conditions. The creditors agreed to the sale.

Nikolaus J. Röver, Frank Bruder, Julia Rall and Martin Eichler of ACXIT Recovery Management acted as financial advisor in the transaction. Manuel Sack of Brinkmann & Partner acted as legal advisor for Mobility Solutions AG. Rainer Eckert of Eckert Rechtsanwälte, was appointed the supervising trustee.

Ernst & Young acted as Accountant to Tri Star Inc & Dutech Holdings Ltd.