Announced
Completed
Financials
Sources
Tags
Single Bidder
Completed
Friendly
Cross Border
Acquisition
micro tools
Medical Equipment
precision solid round tools
Private
Switzerland
surgical cutting tools
medical technology
Majority
Synopsis
Sandvik, a Swedish multinational engineering company, completed the acquisition of Sphinx Tools, a precision tools manufacturer. Financial terms were not disclosed. "With the acquisition of Sphinx Tools we continue to execute on our shift to growth strategy. Strengthening our position in round tools is one strategic priority for our machining solutions business and with this acquisition we will expand our product portfolio in the high growth area of micro tools," Stefan Widing, Sandvik CEO and President.
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