Sandvik acquires Accuratech Group which is a consolidation of three (3) smaller entities; Polyfil AG, Galvarex S.A and Polyflex s.r.l. consisting of in total 52 employees. Seller is the private equity firm OPP Beteiligungen AG.
Polyfil and Galvarex are based in Switzerland and Polyflex in Italy. Polyfil is a manufacturer of micro wire and tubes, wire insulations and micro technologies. Galvarex is specialized in surface treatments, electroplating and assembly of semi-finished and finished micro-electronic products. Polyflex focuses solely on assembly of semi-finished and finished micro-electronic products.
“This acquisition is a strategic important step for Sandvik Materials Technology and our growth journey in the medical sector. The footprint of Accuratech will allow us to both have manufacturing and provide for further expansion in Europe and Asia”, says Göran Björkman, President, Sandvik Materials Technology.
“Through this acquisition we strengthen Business Unit Medical’s wire forming and component manufacturing capabilities and broaden the product portfolio with medical micro-tubes. I am pleased to welcome all employees at Polyfil, Galvarex and Polyflex to the Sandvik family”, says Gary Davies, Head of Business Unit Medical.
The transaction is closed, and Accuratech Group will be reported as part of the division Kanthal within business area Sandvik Materials Technology. The three entities; Polyfil, Galvarex and Polyflex will operate under their current company names until further notice.