Seco Tools AB has acquired the cutting tools division of QCT
June 2020 — Seco Tools AB has acquired the cutting tools division of Quimmco Centro Tecnológico S.A. de C.V. (QCT).
Seco Tools, a subsidiary within the Sandvik Machining Solutions business area, is one of the world’s largest providers of comprehensive metal cutting solutions for milling, stationary tools, hole making and tooling systems. With a history dating back more than 80 years, Seco Tools develops and supplies the technologies, processes and support that manufacturers depend on to maximize productivity and profitability. Headquartered in Fagersta, Sweden, Seco Tools is present in more than 75 countries and employs over 4,000 people.
QCT is a privately-owned Mexican company offering integral machining solutions, servicing world-class customers in Mexico and abroad, who demand high standards of quality, competitiveness and innovation. It has ten facilities strategically located to serve the NAFTA market. Its cutting tools division is engaged in designing and manufacturing custom-made cutting tools, as well as offering reconditioning capabilities. The company serves customers in a wide range of industries, including aerospace, automotive, energy and transportation.
Our role in the transaction
Oaklins’ team in Sweden advised the buyer in this transaction. This was the fourth acquisition closed with the Swedish industrial group Sandvik. Oaklins’ team in Mexico introduced the seller and helped throughout the process.
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