Sandvik wraps up acquisition of US-based Peterson Tool Company

Sandvik has wrapped up the previously announced acquisition of the assets of Peterson Tool Company (PTC) an American supplier of machine-specific custom insert tooling solutions.

The financial terms of the deal were not disclosed by the Swedish engineering firm.

Based in Nashville, Peterson Tool Company offers custom carbide form inserts for high-production grooving and turning applications, mainly within the general engineering and automotive segments.

Peterson Tool Company will operate under the GWS Tool business unit in Walter, a division within Sandvik Manufacturing and Machining Solutions.

Last year, Peterson Tool Company earned $9 million in revenue.