Sandvik acquires precision tube engineering company Gerling
Sandvik has wrapped up the previously announced acquisition of Gerling GmbH, a Germany-based precision tube engineering company.
The financial terms of the deal were not disclosed by the Swedish engineering company.
Gerling caters to various industries, which include the hydrogen market. The tube engineering solutions company is engaged in providing engineering solutions, such as high-pressure control technology, which is used in hydrogen refueling stations.
In 2020, Gerling’s revenues were around SEK90 million and an EBIT margin that is neutral to Sandvik Materials Technology.
Gerling will be reported in Sandvik Materials Technology’s Tube division.
Sandvik acquires Germany-based precision tube engineering company Gerling. Photo courtesy of Sandvik AB; (publ).
According to Sandvik, Gerling’s combination with Sandvik Materials Technology will grow the opportunities in the hydrogen refueling stations market with the addition of engineering expertise and capabilities.
Besides, the acquisition of the tube engineering solutions company will expedite the growth of the co-created mobile tubing container solution into new markets around the world to offer customers a flexible, on-site and digitally connected platform to support setting up hydrogen refueling stations, said Sandvik.