alfer Group signs contract to acquire DIY Element System GmbH business operations by way of an asset deal

ALFER Beteiligungs GmbH (along with its subsidiary that will operate under the name alfer element system GmbH in the future) is pleased to announce the conclusion of the purchase and transfer agreement for the acquisition of the business operations of DIY Element System GmbH (DIY). Following the takeover of the alfer Group by a fund managed by SOL Capital Management GmbH (SOL) at the start of the year, this is the next step in further expanding the group’s already strong position in the do-it-yourself market.

The purchase and transfer agreement between all parties was signed on 14 October 2024. The transfer of business operations is planned for 1 November 2024, subject to the satisfaction of all of the contractually agreed terms. With the alfer Group now on board, DIY’s business activities will continue without interruption. The agreement foresees the transfer of 75 employees, which means that the vast majority of jobs will be saved.

Positive outlook and confidence

The parties are very satisfied with the outcome of the negotiations. With the alfer Group, DIY has found a strong shareholder that considers the acquisition of DIY the next strategic step in its expansion.

Mr Martin Blatter, managing director of alfer aluminium GmbH and future managing director of alfer element system GmbH, expressed his satisfaction: “DIY is the ideal addition to the alfer Group’s portfolio. It will allow us to further expand the breadth of our product range and align our offering even more closely with the needs of our customers. Together, we are superbly positioned to extend our market leadership in our core segments and grow successfully in the long term.”

“The acquisition of DIY is a strategic milestone for the alfer Group and fits perfectly with our growth plans. Combining the strengths of both companies will allow us to leverage significant synergies and further reinforce our market position,” added SOL managing partner Mr Haiko Stüting.

Restructuring expert Mr Marc-Philippe Hornung from SZA Schilling, Zutt & Anschütz and Mr Karl Koob, both managing directors of DIY Element System GmbH, added, “The conclusion of the agreement is an important milestone for the company. We are convinced that we have found the right partner to successfully maintain the business.”

This view is shared by the insolvency monitor, Mr Georg Stemshorn from PLUTA Rechtsanwalts GmbH, who has been supporting the debtor-in-possession proceedings in the interests of the creditors. He has been assisted in the proceedings by business lawyer Mr Maximilian König.