NFM Group has acquired all the shares of the company Hexonia GmbH in Germany. This acquisition makes NFM Group a leading European company in protective equipment and combat clothing.
LARGEST ACQUISITION TO DATE FOR THE NFM GROUP
Dialogue with Hexonia commenced at the end of 2021 and a large amount of time has been spent during the acquisition process. This acquisition is NFMs’ most significant to date, so considerable resources were used to establish an agreement in a satisfactory way.
– The acquisition gives us a significant position in Germany which is a large and important European market for NFM Group. We have worked with Hexonia for several years, and therefore know the company well, says Walter Øverland, Group CEO of NFM Group.
The acquisition will significantly increase NFM Group’s total production capacity, enabling access to new technology, and new markets. The goal is to protect those who protect us with the best products and services available in the market.
STRONGER TOGETHER
There are significant synergies within production, technology, and expanded market access. The added capacities and Hexonia’s proven track record in the German market will strengthen NFMs’ capability to provide the best possible solutions for our highly valued clients on a global level. This acquisition will make NFM Group a leading European company within our industry.
– It will be both demanding and exciting to develop NFM Group further with Hexonia as a part of our company. In total, we will be close to 1,000 employees after the acquisition, and in 2023 the turnover is expected to exceed 200 MEUR. With the current security situation in Europe, we probably won’t be unemployed anytime soon, concludes Øverland.
IN TOTAL, WE WILL BE CLOSE TO 1,000 EMPLOYEES AFTER THE ACQUISITION, AND IN 2023 THE TURNOVER IS EXPECTED TO EXCEED 200 MEUR.
Walter Øverland, Group CEO of NFM Group
HEXONIA LEADERSHIP
Hexonia will continue in its current operating form, led by Sabine Alberts and Nils Toverud as Managing Directors of Hexonia. Nils is Chief Business Officer in NFM Group and representative of the shareholder.
Sabine Albert, who has been managing Hexonia for several years together with the founder, Gerd Hexels, has played an essential part in developing Hexonia into the solid company it is today.
– Through the acquisition process, I have had the pleasure of getting to know Hexonia and its skilled and committed employees. Hexonia plays a crucial role in protecting German soldiers through their products, and we will reinforce this importance by building additional industrial presence and expertise. Germany is currently carrying out a significant modernization of its defence with an investment fund of 100 B€, and therefore Hexonia faces the possibility of strong growth, according to Toverud.
– Hexonia is a textile technology leader, developing and manufacturing combat clothing and helmet systems. In addition to maintaining the position as a solid supplier in the German market, we look forward to being able to offer their unique products outside Germany as well, concludes Toverud.
The acquisition was formally completed in Nettetal on the 16th of December, together with all of the Hexonia staff.