Endor/Fanatec: Extraordinary General Meeting Cancelled, Community Questions Answered

Bought csl dd pack Monday, shipped Tuesday, will be with me by Friday - happy.

Better days ahead for the sim racing stalwart, hopefully. With any luck a better organized, more efficient and more responsive company is left standing when the dust has settled.

Hope it all works out well but they really need to get back to focusing on the actual gear.

I fortunately haven’t had any problems with the things I”ve bought from them and have enjoyed using the kit but the competitors have upped there game. With all the recent issues it’s quite difficult to recommend them so without a compelling product/price strategy I think they will struggle.

They seem to still have some strange gaps in the product line up, still no Clubsport level modern GT wheel or updated backlit button modules etc and some daft pricing like a €249 wheelbase mount and a €149 “boost kit and a bunch of other stuff is really looking dated now.

Slim down the product line up, get some decent midrange wheels etc to go with the wheebases and take a closer look at the competition for pricing.

I've had an RMA return cancelled and radio silence from support in getting a shifter fixed. I'm hoping that isn't what operating normally looks like!

There's no backlog because no one's buying Fanatec after this conundrum. If they don't continue to innovate, I don't know how they're going to survive.

When they say "warranty claims, which will see no changes" are they implying that they didn't use to process warranty claims? A friend's shifter was dead on arrival and he hasn't heard back from Fanatec support in weeks.

If you pay in advance for goods from an insolvent company is at your on risc here in germany. If they don't deliver you will lose your money because your claim will end on the list of creditors. Most customers are aware of this. Sad but true, I have to leave the fanatec ecosystem as soon as my Podium DD died...

Interestingly, the release names the two shareholders for the first time - one is former CEO Thomas Jackermeier, who was dismissed from his role effective March 31, 2024. The other is Bamboo Invest GmbH - based in Landshut, just like Endor, and Jackermeier is listed as their Managing Director, according to European business research site NorthData.

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What type of horse **** is this? The two shareholders that are voting no confidence is Thomas Jackermeyer and Thomas Jackermeyer (by proxy)... Um... Yeah... That seems so right. When Thomas needs to differ to Bamboo Invest GmbH, does he put one phone down and pick up another and resume talking? How is this supposed to work?

I get that becoming a shareholder isn't some democratic process, and the person who has the most shares has a lot more say than some day trader who stumbled on to the stock. But seriously... Thomas is pushing two votes of no confidence. How is this legit?

And on top of that, the company is mostly this predicament because he steered it into this mess. I don't get it. Will someone make some sense of this quagmire for me, this really looks like Fanatec is damned, no matter what it does.

Step in MOZA

Wilko Jones said:

What type of horse **** is this? The two shareholders that are voting no confidence is Thomas Jackermeyer and Thomas Jackermeyer (by proxy)... Um... Yeah... That seems so right. When Thomas needs to differ to Bamboo Invest GmbH, does he put one phone down and pick up another and resume talking? How is this supposed to work?

I get that becoming a shareholder isn't some democratic process, and the person who has the most shares has a lot more say than some day trader who stumbled on to the stock. But seriously... Thomas is pushing two votes of no confidence. How is this legit?

And on top of that, the company is mostly this predicament because he steered it into this mess. I don't get it. Will someone make some sense of this quagmire for me, this really looks like Fanatec is damned, no matter what it does.

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The moment TJ borrowed money from the banks and made guarantees that he would pay the amounts back there was always a potential that he could lose control of his company if it all went wrong.When he was removed as CEO the company had failed to be successful enough,failed to fulfill orders and was badly run in terms of customer services despite having great products.Since TJ was removed he is still the biggest shareholder of essentially a worthless company (It owes to much)and he has no control.To regain control he needs to find enough finance to pay off the banks.So for example if Fanatec owes the banks 10 million Euros,he might need 2.5 million Euros for them to walk away and regain control of the company or they could retain 25% in some sort of deal.Even if TJ succeeds he may not have adequate finance to take the company forward and make it a success because as time goes by customers drift elsewhere.These cancelled meetings could be due to TJ not having the finance,not agreeing an amount with the banks or another player like Corsair coming in with a better deal than TJ.My guess is that Corsair will end up owning Fanatec.They have already spent money and I think they have some IP etc.It looked like the original deal failed when they were doing some due dilligence so that could have been some liability issues like warranty that could have ended up being very expensive or something else like some of the essential IP belonging to someone entirely different.
This is my theory(I definitley dont know the full facts) based on what happened to my Fathers company back in the 1990s.All very similar and probaly a lot more of a tangled web than anyone can imagine.The key thing for sim racers is that the value is in the products which are very good,so Fanatec is not going away.My personal opinion is I would not buy anything from Fanatec right now,I would wait until its clear who is running the company.

Wilko Jones said:

What type of horse **** is this? The two shareholders that are voting no confidence is Thomas Jackermeyer and Thomas Jackermeyer (by proxy)... Um... Yeah... That seems so right. When Thomas needs to differ to Bamboo Invest GmbH, does he put one phone down and pick up another and resume talking? How is this supposed to work?

I get that becoming a shareholder isn't some democratic process, and the person who has the most shares has a lot more say than some day trader who stumbled on to the stock. But seriously... Thomas is pushing two votes of no confidence. How is this legit?

And on top of that, the company is mostly this predicament because he steered it into this mess. I don't get it. Will someone make some sense of this quagmire for me, this really looks like Fanatec is damned, no matter what it does.

Click to expand...

Thomas owns the majority of the company. That's how a corporation works, money is power. It shows how badly he ****ed up that he lost control of the company in the first place.