Blue Wolf Capital Partners LLC is poised to take ownership of Massachusetts-based Gloucester Engineering Co. out of bankruptcy. But over in Vienna, a court battle pits the deep-pocketed New York private equity firm against a small maker of film winders in Rapperswill, Switzerland: Swiss Winding Inventing AG.
The prize: Ownership of the business and intellectual property of Gloucester’s insolvent subsidiary in Vienna, Gloucester Engineering Europe GmbH.
Blue Wolf partner Michael Ranson said his firm will pull out all the stops to get the Austrian operation, which it wants to continue running to serve customers in Europe. “We don’t want the IP to fall into the hands of the competitors. But we also want...