Watson Farley & Williams (“WFW”) has advised the Böllhoff Group (“Böllhoff”), a supplier of assembly technology to the aeronautical, automotive and manufacturing sectors, on the acquisition of SNEP SA (“SNEP”), a French company specialising in the manufacture of fasteners, especially for the aeronautical sector. The acquisition contract was signed in March 2021 and the transaction completed on 1st June.
Given SNEP’s core business, this acquisition complements Böllhoff’s offering to clients in the aeronautical and aerospace sectors in particular. This is a key sector of expansion for Böllhoff and one in which WFW Paris previously assisted them in with the acquisition of a significant stake in Gillis Aerospace in March 2020.
A fourth-generation family run business founded in Germany, in 1877, Böllhoff is one of the world’s leading manufacturers and suppliers of fasteners and assembly systems and has 3000+ employees in 24 countries worldwide. Its client base spans the automotive and manufacturing sectors as well as, more recently, the aeronautics and aerospace sectors for which it develops innovative solutions for leading European and North American manufacturers.
Böllhoff Managing Partner Michael Böllhoff commented: “We are delighted to have strengthened our presence in France and to welcome a new and well-respected team to the firm. With a strong culture of taking the initiative, we are confident our firm is well placed to continue its successful expansion”.
Böllhoff Managing Director Carsten Loeffler added: “We were able to build strong and cordial relations with SNEP’s top management, ensuring this acquisition proceeded smoothly. WFW and BDO’s support also contributed to its timely and successful completion.”
BDO were represented by Partner Alban Cabanis and Assistant Manager Solène Durmois.