The two medium-sized companies are thus embarking on a new phase of close cooperation and international growth. All shares in Hoffmann SE will be acquired by the SFS Group upon completion of the transaction. The CEO of Hoffmann SE, Martin Reichenecker, will join the Group Executive Board of SFS.

SFS is established in the market as a successful technology group with activities in many fields, such as mechanical fastening systems and precision components. Hoffmann is the market leader for quality tools in its core European markets and supplies over 135,000 customers there. The joining of forces marks a milestone and creates significant development opportunities for both companies. There are overlaps not only on the customer side, but above all when it comes to tools. At SFS, tool distribution is part of the "Distribution & Logistics" segment. SFS has been a partner of the Hoffmann Group in this segment for many years. As an international system partner, Hoffmann SE contributes innovative expertise in many areas to the SFS Group.

Contorion, the eCommerce subsidiary of Hoffmann SE in Berlin, is not part of the merger. The close cooperation between Hoffmann SE and Contorion will continue in a partnership-based relationship. All other subsidiaries of Hoffmann SE will continue to exist as 100 percent holdings under the current company name.

"By bringing Hoffmann on board, SFS can internationalize its trading business in attractive product areas and create the basis for further growth," Jens Breu, CEO of SFS Group, is convinced. "The many years of successful cooperation between our companies and a similar corporate culture is an excellent foundation for future joint success." Martin Reichenecker, CEO of Hoffmann SE and future member of the SFS Group Executive Board, also emphasizes: "Hoffmann SE will continue to consistently pursue the strategic path it has embarked on and realize additional benefits from the new constellation for the benefit of our customers and thus both companies."

The parties have agreed not to disclose the economic conditions. The transaction is subject to customary closing conditions. The transaction is expected to be completed in the first half of 2022.