Sandvik acquires American tap manufacturer Balax

Sandvik has acquired the assets of US-based Balax, which supplies carbide and HSS cut taps and roll forming taps, that are mainly used within the automotive and general engineering segments.

The financial terms of the deal were not disclosed.

Balax will come under Walter, a unit within the Sandvik Manufacturing and Machining Solutions business area.

Sandvik acquires American tap manufacturer Balax. Photo courtesy of Sandvik AB; (publ).

Stefan Widing — Sandvik CEO and President said: “The acquisition of Balax is the second acquisition by GWS during Sandvik’s ownership and is well aligned with the shift to growth strategy. Balax will strengthen our tap offering on the North American market.”

Headquartered in North Lake, Balax has a workforce of 66 people. Last year, the American tap manufacturer earned revenues of $10 million.