Hoffmann SE (www.hoffmann-group.com), a leading European supplier of high-quality tools, has signed an agreement to acquire Contorion GmbH, a specialist on-line provider of professional trade and industry supplies.

The two companies have agreed not to disclose the financial details of the agreement, and closure of the acquisition is subject to approval by the relevant anti-trust authorities.

Robert Blackburn, chairman and CEO of Hoffmann SE, said: “Contorion complements our business model perfectly. This strategic move will allow us to significantly expand our expertise in the digital market-place. In future, by working together, we will be able to serve our customers even more effectively with better, faster and more-detailed advice across all markets and channels.”

Christoph Steiger, director of digital business at Hoffmann SE, said: “Joining forces with Contorion will further strengthen our innovation drive. This young team will form the core of our innovation hub dedicated to continuously developing new digital offers for our customers”.

Frederick Roehder, founder and managing director of Contorion, said: “We look forward to leveraging our strengths even more effectively through our alliance with Hoffmann.

“We will bundle and expand our individual strengths and capitalise effectively on the resulting market potential. There is huge scope for growth here.”

Contorion, which was founded in spring 2014 and now employs around 130 people at its headquarters in Berlin, achieved revenues of about 20 million euros in the first half of 2017.