SNEP S.A. HAS BEEN ACQUIRED BY THE BÖLLHOFF GROUP
Birmingham, Michigan – June 15, 2021 – Angle Advisors is pleased to announce that Howmet Aerospace Inc. (NYSE:HWM) (“Howmet”) has sold its subsidiary, SNEP S.A. (“SNEP” or the “Company”), to The Böllhoff Group (“Böllhoff”). Angle Advisors acted as the exclusive investment banking advisor to Howmet in completing this transaction.
Located in Montbrison, France, SNEP is a manufacturer of specialty fasteners and machined components for the aerospace and industrial market. Using a variety of screw machining techniques, SNEP’s products range from special washers, nuts and bushings to fluid fittings and build-to-print precision parts. SNEP’s products can be found in many critical applications, including commercial aircraft wings, helicopter engines, landing gear, and propellers.
"France is an important Aerospace market for Böllhoff," says 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 the future." SNEP's manufacturing know-how expands the Böllhoff Group's current manufacturing competencies for the aerospace sector, particularly in the areas of turning and machining. Böllhoff Partner, Wilhelm A. Böllhoff adds “Last year, the aerospace sector suffered greatly from the effects of the COVID‑19 pandemic. In the medium term, we expect business there to recover - and thanks to the acquisition of SNEP, we will then be in an even stronger position to meet our customers' requirements."
This deal marks the third global transaction Angle Advisors has completed for Howmet within the last two years. Angle Advisors also advised Howmet on the sale of its Changwon Precision Extrusions division in South Korea (completed in March 2020) as well as the sale of its Firth Rixson Forgings business in the United Kingdom (completed in December 2019).
The Böllhoff Group, headquartered in Bielefeld, Germany, is a global partner for 360° joining technology with assembly and logistics solutions. Family-run since 1877, the company stands for long-term success through innovative capacity and local presence. As a fastening specialist, Böllhoff knows the specific requirements of its customers from all industries and supports them in enabling successful connections. Böllhoff has more than 3,000 employees and generated a turnover of 545 million euros in 2020. For more information, please visit www.boellhoff.com.
Howmet Aerospace Inc., headquartered in Pittsburgh, Pennsylvania, is a leading global provider of advanced engineered solutions for the aerospace and transportation industries. The Company’s primary businesses focus on jet engine components, aerospace fastening systems, and titanium structural parts necessary for mission-critical performance and efficiency in aerospace and defense applications, as well as forged wheels for commercial transportation. With nearly 1,150 granted and pending patents, the Company’s differentiated technologies enable lighter, more fuel-efficient aircraft to operate with a lower carbon footprint. For more information, please visit www.howmet.com.
Angle Advisors, with offices in the United States, Europe, and Asia, specializes in mergers and acquisitions, corporate divestitures, and capital raising. The firm’s professionals have completed 238 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.