Retrieving Treev

An independent investor has reached agreement with parent company Ceyoniq AG to purchase Ceyoniq USA. The U.S. operation, which is based in Herndon, VA, will be legally independent in its entirety from the former parent company. Company officials note the 12-year-old U.S. business operation has always been operationally independent from the parent company.

The sale was approved by the court-appointed receiver for the parent company, which filed for insolvency in Germany on April 12. Shortly, the U.S. operation will assume the previous name of Treev.

Financing for the purchase was provided by a longtime investor in predecessor company Treev. Though detailed terms of the transaction were not available, the final purchase transaction with parent company Ceyoniq AG is expected to close soon.