The Böllhoff Group has acquired SNEP SA, a French manufacturer of fasteners for the aerospace industry, with effect from 1 June 2021. This 100% acquisition is intended to enable Böllhoff to further expand its market position in technical fasteners, including complex and highly specialised fasteners such as washers, nuts and bushings, fluid fittings and build-to-print precision parts.
“France is an important aerospace market for Böllhoff,” stated the company’s managing partner, Michael W. Böllhoff. “The acquisition of SNEP helps us to be closer to key customers and to fulfil their individual requirements even better in future.”
SNEP’s manufacturing expertise will expand the Böllhoff Group’s manufacturing competencies for the aerospace sector, particularly in the areas of turning and machining.
SNEP may also benefit from the affiliation with the Böllhoff Group, gaining in areas such as experience in innovation and in joining lightweight materials. The long-term goal of the takeover is to strengthen SNEP’s development competence and become a local development partner for the aerospace industry in France.
“Last year, the aerospace sector suffered greatly from the effects of the Covid-19 pandemic,” added fellow managing partner, Wilhelm A. Böllhoff. “In the medium term, we expect business to recover – and thanks to the acquisition of SNEP, we will then be in an even stronger position to meet our customers’ requirements.”
SNEP was founded in 1918 in Montbrison, France and now has 110 employees. SNEP generated total sales of 10.5 million Euros in 2020. Within the Böllhoff Group, SNEP will operate under the name Bollhoff SNEP S.A.