Walter to acquire Portugal-based PCD tools manufacturer Frezite
Tübingen, June 27th 2022 - Walter has reached an agreement to acquire the privately owned company Frezigest, SGPS, SA (“Frezite”).
Frezite is primarily a manufacturer of made-to-order PCD tools for metal and wood applications, based in Portugal. The company has a strong focus on products for the automotive, general engineering and aerospace segments and will strengthen Walter’s competence in lightweight machining, especially for the European market.
The acquisition supports Walter’s growth strategy. “I am very pleased that we have reached an agreement to acquire Frezite, as it will significantly increase our presence in the PCD tooling for lightweight materials”, says Richard Harris, President of Walter. “The highly engineered made-to-order products, fit very well to our Engineering Kompetenz.”
The complementary production capabilities and competence of Frezite reinforces Walter’s position in the electric and hybrid vehicle market. Frezite’s competence and offering of clamping and fixtures solutions will allow Walter to offer turnkey solutions which implies deeper interaction in the customer’s value chain. The speed to market capabilities of the company improves Walter’s value proposition. In addition, Frezite adds adjacent revenue potential for Walter in the premium wood and composite segment.
The parties have agreed not to disclose the purchase price. The transaction is expected to close during the third quarter of 2022 and is subject to customary closing conditions.
About Frezite
Frezite, founded in 1978, has around 450 employees and is headquartered in Trofa, Portugal. Frezite is an Engineering Group of companies mainly working on the Wood and Metal cutting tool business but also high-performance fixtures and post machining special machinery, as well as space technologies. A strong focus of the company is producing made-to-order polycrystalline diamond (PCD) cutting tools. Frezite is strongly active towards globalization and already has a consolidated branch network. Developing engineered solutions for different markets, the company has also been extending its field of action to new operating areas. The commitment to innovation and excellence means that Frezite’s products and technology can currently be found in over 70 countries spread around five continents.
About Walter
Walter was founded in 1919 and is now one of the world’s leading metalworking companies. As a provider of specialized machining solutions, Walter offers a wide range of precision tools for milling, turning, drilling and threading applications. Walter works together with its customers to develop customised machining component solutions for use in the aviation and aerospace industries, as well as automotive, energy, general engineering, and mould & die. Demonstrating its Engineering Kompetenz at every stage of the machining process, Walter is an innovative partner capable of creating digital process solutions for optimal efficiency. With around 3 800 employees worldwide, together with its numerous subsidiaries and sales partners, Walter serves customers in over 80 different countries.
This content was first published on the Walter Tools website.
