G30 Business combinations
The acquisitions of business combinations executed in 2024 and 2025 are set out below. Annual revenue and number of employees reflect the latest available information at the time of the transaction.
Business area |
Cash generating unit |
Company/unit |
Country |
Acquisition date |
Annual revenue |
No. of employees |
||
|---|---|---|---|---|---|---|---|---|
2024 |
||||||||
Machining and Intelligent Manufacturing |
Sandvik Coromant |
pro-micron GmbH |
Germany |
February 1, 2024 |
88 MSEK in 2022 |
56 |
||
Machining and Intelligent Manufacturing |
Machining and Intelligent Manufacturing |
Cimquest, Inc. |
USA |
March 1, 2024 |
26 MUSD in 2023 |
55 |
||
Machining and Intelligent Manufacturing |
Sandvik Coromant |
Almü Präzisions-Werkzeug GmbH |
Germany |
May 1, 2024 |
7.1 MEUR1) in 2023 |
44 |
||
Machining and Intelligent Manufacturing |
Walter Group |
PDQ Workholding LLC |
USA |
June 1, 2024 |
36 MUSD in 2023 |
107 |
||
Machining and Intelligent Manufacturing |
China Division |
Suzhou Ahno Precision Cutting Tool Technology Co., Ltd. |
China |
July 1, 2024 |
1.2 BSEK in 2023 |
1,200 |
||
Mining |
Mining |
Universal Field Robots |
Australia |
Dec. 2, 2024 |
80 MSEK 12M Q3 23–Q2 24 |
40 |
||
2025 |
||||||||
Machining and Intelligent Manufacturing |
Machining and Intelligent Manufacturing |
FASTech Inc. |
USA |
January 2, 2025 |
6.0 MUSD in 2024 |
8 |
||
Machining and Intelligent Manufacturing |
Machining and Intelligent Manufacturing |
ShopWare, Inc. |
USA |
February 3, 2025 |
12.4 MUSD in 2024 |
21 |
||
Machining and Intelligent Manufacturing |
Machining and Intelligent Manufacturing |
MCAM Northwest, Inc. |
USA |
February 3, 2025 |
2.6 MUSD in 2024 |
9 |
||
Machining and Intelligent Manufacturing |
Machining and Intelligent Manufacturing |
OptiPro Systems, LLC |
USA |
February 3, 2025 |
2.6 MUSD in 2024 |
9 |
||
Machining and Intelligent Manufacturing |
Machining and Intelligent Manufacturing |
CadCam Solutions, Inc. |
USA |
March 3, 2025 |
4.5 MUSD in 2024 |
4 |
||
Machining and Intelligent Manufacturing |
Machining and Intelligent Manufacturing |
CamTech Engineering Services, LLC |
USA |
March 3, 2025 |
2.0 MUSD in 2024 |
3 |
||
Machining and Intelligent Manufacturing |
Machining and Intelligent Manufacturing |
Barefoot CNC, Inc. |
USA |
March 3, 2025 |
3.1 MUSD in 2024 |
6 |
||
Machining and Intelligent Manufacturing |
Machining and Intelligent Manufacturing |
CIMCO PP ApS |
Denmark |
March 3, 2025 |
7.4 MSEK in 2024 |
3 |
||
Machining and Intelligent Manufacturing |
Machining and Intelligent Manufacturing |
Verisurf Software, Inc. |
USA |
June 2, 2025 |
130 MSEK in 2024 |
44 |
||
Rock Processing |
Rock Processing |
Osa Demolition Equipment |
Italy |
July 1, 2025 |
150 MSEK in 2024 |
64 |
||
Machining and Intelligent Manufacturing |
Machining and Intelligent Manufacturing |
QTE Manufacturing Solutions |
USA |
November 3, 2025 |
45 MSEK in 2024 |
12 |
||
|
||||||||
Acquisitions
The acquisitions during 2025 were made through net asset deals, except for CIMCO PP ApS, Verisurf Software, Inc., and Osa Demolition Equipment where 100 percent of shares and voting rights were acquired.
On February 28, 2025 and September 10, 2025 Sandvik acquired the remaining 28 percent of the shares in Suzhou Ahno and Yongpu, respectively, through the utilization of call options. After the acquisitions, Sandvik owns 100 percent of the shares in both Suzhou Ahno and Yongpu.
For all acquisitions, Sandvik received control over the operations on the date of closing. No equity instruments have been issued in connection with the acquisitions. The acquisitions have been accounted for using the acquisition method.
The amounts presented in the following tables detail the recognized amounts aggregated by business area. The relative amounts of the individual acquisitions are not considered significant. Sandvik is in the process of reviewing the final values for certain of the recently acquired businesses. No adjustments are expected to be material.
Total fair value of assets and liabilities of acquired businesses in 2025
The fair value of acquired assets and assessed liabilities has been preliminarily established for all acquisitions made during 2025. Only minor IFRS adjustments were made to the acquisition values.
Acquisitions made by Rock Processing
During 2025, Rock Processing has acquired Osa Demolition Equipment S.r.l. (OSA), an Italy-based manufacturer of demolition tools and hydraulic hammers. The relative amounts of the individual acquisition are not considered significant.
Acquisitions made by Machining and Intelligent Manufacturing
During 2025, Machining and Intelligent Manufacturing acquired several resellers of Mastercam software and services in the US. Acquisitions of Verisurf Software, Inc., a US-based 3D metrology software solutions provider, and the probing and post processor business lines of CIMCO Group, have also been completed. The relative amounts of the individual acquisition are not considered significant.
|
Rock Processing |
Machining and Intelligent Manufacturing |
Total |
|---|---|---|---|
Intangible assets |
0 |
0 |
0 |
Property, plant and equipment |
19 |
3 |
21 |
Other non-current assets |
15 |
10 |
25 |
Inventories |
55 |
2 |
57 |
Receivables |
44 |
154 |
198 |
Cash and cash equivalents |
62 |
37 |
99 |
Interest-bearing loans and borrowings |
–25 |
–10 |
–34 |
Other liabilities and provisions |
–36 |
–231 |
–267 |
Deferred tax assets/liabilities, net |
–18 |
–33 |
–50 |
Net identifiable assets and liabilities |
118 |
–69 |
49 |
Goodwill |
307 |
645 |
952 |
Other surplus values |
92 |
487 |
579 |
Purchase consideration |
–516 |
–1,063 |
–1,579 |
Contingent and deferred considerations |
75 |
81 |
156 |
Cash and cash equivalents in the acquired business |
62 |
37 |
99 |
Net cash outflow |
–379 |
–945 |
–1,324 |
|
Rock Processing |
Machining and Intelligent Manufacturing |
Total |
|---|---|---|---|
Contributions as of acquisition date |
|
|
|
Revenues |
56 |
323 |
379 |
Profit/loss for the year |
0 |
97 |
97 |
Contributions if the acquisition date would have been January 1 |
|
|
|
Revenues |
114 |
423 |
537 |
Profit/loss for the year |
10 |
107 |
117 |
|
Mining |
Machining and Intelligent Manufacturing |
Total |
||||||
|---|---|---|---|---|---|---|---|---|---|
|
2024 |
2025 |
Change |
2024 |
2025 |
Change |
2024 |
2025 |
Change |
Intangible assets |
10 |
9 |
–1 |
9 |
9 |
0 |
19 |
18 |
–1 |
Property, plant and equipment |
5 |
4 |
–1 |
1,003 |
996 |
–7 |
1,009 |
1,000 |
–9 |
Other non-current assets |
16 |
13 |
–3 |
140 |
140 |
0 |
155 |
153 |
–3 |
Inventories |
3 |
– |
–3 |
323 |
323 |
–1 |
327 |
323 |
–4 |
Receivables |
6 |
5 |
–1 |
923 |
923 |
0 |
930 |
928 |
–1 |
Cash and cash equivalents |
2 |
2 |
0 |
241 |
241 |
0 |
244 |
244 |
0 |
Interest-bearing loans and borrowings |
–13 |
–13 |
0 |
–682 |
–682 |
0 |
–695 |
–695 |
0 |
Other liabilities and provisions |
–9 |
–10 |
–1 |
–606 |
–604 |
3 |
–615 |
–614 |
1 |
Deferred tax assets/liabilities, net |
–11 |
–10 |
1 |
–220 |
–229 |
–9 |
–231 |
–239 |
–8 |
Net identifiable assets and liabilities |
10 |
0 |
–9 |
1,132 |
1,117 |
–15 |
1,141 |
1,117 |
–24 |
Goodwill |
170 |
164 |
–6 |
1,696 |
1,652 |
–44 |
1,866 |
1,816 |
–50 |
Other surplus values |
142 |
156 |
14 |
1,821 |
1,879 |
59 |
1,963 |
2,035 |
72 |
External liability to minority shareholders |
– |
– |
– |
–1,096 |
51 |
1,146 |
–1,096 |
51 |
1,146 |
Purchase consideration |
–322 |
–319 |
2 |
–3,553 |
–4,699 |
–1,146 |
–3,874 |
–5,019 |
–1,144 |
Contingent and deferred considerations |
– |
– |
– |
28 |
28 |
– |
28 |
28 |
– |
Cash and cash equivalents in the acquired business |
2 |
2 |
0 |
241 |
241 |
0 |
244 |
244 |
0 |
Net cash outflow |
–319 |
–317 |
2 |
–3,283 |
–4,430 |
–1,146 |
–3,603 |
–4,747 |
–1,144 |
The fair value of the acquisitions made during 2024 have changed due to the establishment of a final purchase price allocation during 2025.
§ Accounting principles
The consolidated financial statements are prepared in accordance with the acquisition method. In business combinations, acquired assets and assumed liabilities are identified and classified, and measured at fair value on the date of acquisition (also known as a purchase price allocation).
Transaction costs in conjunction with acquisitions are reported directly in profit or loss for the year as other operating expenses.
Contingent considerations are recognized as financial liabilities and at fair value on the acquisition date. Contingent considerations are remeasured at each reporting period with any change recognized in profit or loss for the year.
In step acquisitions, when a controlling interest is achieved, any net assets acquired earlier in the acquired units are remeasured at fair value and the result of the remeasurement is recognized in profit or loss. If the controlling interest is lost upon divestment, net profit is recognized in profit or loss. Any residual holding in the divested business is then measured at fair value on the date of divestment and its effect is recognized in profit or loss for the year.
! Critical estimates and judgments
Allocation of purchase price
Allocation of the purchase price between goodwill and various identifiable intangible and tangible assets includes estimates, such as projections of future cash flows, useful lives of assets and future earnout payments.