Sandvik to Acquire Peterson Tool Company

Sandvik has signed an agreement to acquire the assets of US based company Peterson Tool Company, Inc., a leading supplier of machine-specific custom insert tooling solutions. The product offering includes custom carbide form inserts for high production turning and grooving applications, primarily within the general engineering and automotive segments. The company will be reported in the GWS Tool business unit in Walter, a division within the business area Sandvik Manufacturing and Machining Solutions.

“The acquisition of Peterson Tool Company is well aligned with the shift to growth strategy to enhance our presence in the North American market and continuing GWS’ strong track record of growth”, says Stefan Widing, CEO and President of Sandvik.

PTC is headquartered in Nashville, USA, and has 73 employees. In 2021 the company had revenues of 9 million USD and an EBITA margin neutral to Sandvik Manufacturing and Machining Solutions. Impact on Sandvik’s earnings per share will be limited, yet slightly positive. The transaction is expected to close during the second or third quarter of 2022.

Courtesy of Sandvik.

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Sara Mathov is a feature editor contributing to Valve World Americas, Stainless steel World Americas and other related print & online media.