The Vikings are coming: NFM acquires HEXONIA

The NFM Group has acquired all shares of the company HEXONIA GmbH in Germany. This acquisition positions the NFM Group as a leading European company in protective equipment and combat clothing.

Largest Acquisition in NFM Group's History

The dialogue with HEXONIA began in late 2021 and the acquisition process took a lot of time. This is the largest acquisition by NFM so far, requiring significant resources to reach a satisfactory agreement.

• "The acquisition gives us a significant presence in Germany, a large and important European market for the NFM Group. We have been working with Hexonia for several years and therefore know the company very well," says Walter Øverland, Group CEO of the NFM Group.

The acquisition will significantly increase the overall production capacity of the NFM Group and provide access to new technologies and new markets. Our goal is to protect those who protect us with the best products and services available on the market.

Stronger Together

There are significant synergies in production, technology, and expanded market access. The additional capacities and proven track record of HEXONIA in the German market will strengthen NFM's ability to offer the best possible solutions to our valued customers on a global level. This acquisition will make the NFM Group a leading European company in our industry.

• "The further development of the NFM Group with HEXONIA as part of our company will be both challenging and exciting. After the acquisition, we will have nearly 1,000 employees, and in 2023, revenue is expected to exceed 200 MEUR. Given the current security situation in Europe, we are unlikely to be out of work anytime soon," concludes Øverland.

HEXONIA Leadership

HEXONIA will continue to operate in its current form and will be led by Sabine Alberts and Nils Toverud as managing directors of HEXONIA. Nils Toverud is the Chief Business Officer of the NFM Group and a representative of the shareholder.

Sabine Albert, who has been leading HEXONIA for several years with founder Gerd Hexels, has made a significant contribution to developing HEXONIA into the solid company it is today.

• "During the acquisition process, I had the pleasure of getting to know HEXONIA and its competent and dedicated employees. HEXONIA plays a critical role in protecting German soldiers with its products, and we will enhance this importance by building additional industrial presence and expertise. With Germany leading a significant modernization of its defense with a 100 billion euro investment fund, HEXONIA has the potential for strong growth," says Toverud.
• "HEXONIA is a leading company in textile technology, developing and producing combat clothing and helmet systems. We look forward to not only maintaining the position as a reliable supplier in the German market, but also offering their unique products outside Germany," Toverud concludes.

The acquisition was formally completed on December 16 in Nettetal, together with all HEXONIA employees.

ABOUT HEXONIA

The HEXONIA GmbH was founded in 2005 and has become a leading provider of clothing and protection systems for German soldiers. With more than 200 employees, strong research and development capabilities, and significant production capacities in Germany, HEXONIA will continue to make a strong contribution to German sovereignty. Hexonia is headquartered and produced in Nettetal, on the outskirts of Düsseldorf, and has a second production site in Saxony. HEXONIA online

ABOUT NFM

Founded in 1996, the NFM Group develops and produces protective equipment that allows the user to deploy their full combat capability while remaining protected. Our systems and products, based on the Scandinavian heritage of craftsmanship, are developed with the user at the center and through the continuous implementation of a holistic and innovative approach to protection. NFM online