Homburger and Kellerhals Carrard on the acquisition of Sphinx Tools

Sandvik, a global high-tech engineering group headquartered in Sweden, has acquired Sphinx Tools, a Swiss based micro tools and surgical cutting tools producer. A coalition of investors led by Helvetica Capital, a Swiss-based private equity firm, and the Sphinx management have announced this sale of the Swiss precision tools manufacturer and its wholly owned subsidiary P. Rieger Werkzeugfabrik (“Sphinx Tools”) to the Sweden company. 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.

Sphinx Tools was founded in 1994, has around 115 employees and is based in Switzerland. In 2021, the company generated revenues of approximately 292 MSEK. The EBITA margin is neutral to Sandvik Manufacturing and Machining Solutions. Impact on Sandvik’s earnings per share will be limited, yet slightly positive. The parties have agreed not to disclose the purchase price.

Homburger has advised Sandvik on this transaction. The team was led by partner David Oser (corporate / m&a, pictured left) and further consisted of 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).

Kellerhals Carrard has also advised on this transaction. The m&a team was led by Beat Brechbühl (partner, pictured right) and Patric Brand (senior associate) and also included Michèle Remund and Jan Heller. “The whole KC team was efficient, pragmatic and problem-solving oriented, it was again a pleasure to work with them” said Christian Fuessinger of Helvetica Capital.