Sandvik has acquired Portugal-based Frezite

Walter, a division of Sandvik Manufacturing and Machining Solutions, has acquired Portugal-based Frezite, a family-owned polycrystalline diamond (PCD) tool manufacturer.

Sandvik is a global high-tech engineering group offering solutions that enhance customer productivity, profitability and sustainability for the manufacturing, mining and infrastructure industries. Sandvik is at the forefront of digitalization with a focus on optimizing customers’ processes, as well as having a world-leading offering, including equipment, tools, services and digital solutions for machining, mining, rock excavation, rock processing and advanced materials. In 2021, the group had approximately 44,000 employees and revenues of over US$9 billion in about 150 countries.

Founded in 1978, Frezite primarily offers made-to-order PCD tools for metal and wood applications, predominantly serving customers in the automotive, general engineering and aerospace segments. The company is headquartered in Trofa, Portugal, and is present in Europe, Mexico and Brazil. Frezite has approximately 450 employees and generated revenues of approximately US$45.5 million in 2021.

Oaklins’ Swedish and Portuguese teams acted as financial advisors to Sandvik and Walter throughout the acquisition process.