Homburger advised Sandvik on its acquisition of precision tools manufacturer Sphinx Tools

On August 8, 2022, Sandvik signed and completed an agreement to acquire 100% of the equity interests in the Switzerland-based Sphinx Tools Ltd and its wholly owned subsidiary P. Rieger Werkzeugfabrik AG («Sphinx Tools»). Sphinx Tools’ offering primarily consists of precision solid round tools (micro tools) and surgical cutting tools. The customers are mainly within the automotive, aerospace and medical segments. The company will be reported within Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions. Sphinx Tools enhances Sandvik Coromant’s product offering within solid round tools and is an established player in the adjacent surgical cutting tools market. The company is present in Europe with three production sites in Switzerland and has global distribution. The parties have agreed not to disclose the purchase price.

The Homburger team advising Sandvik was led by partner David Oser (Corporate / M&A) and comprised partner Richard Stäuber (Competition) and associates Stefan Luginbühl, Claudine Schär and Jasmin Künzle (all Corporate / M&A) Angelika Murer (Healthcare / Life Sciences and Competition) and Jonas Krull (Competition).