Sandvik’s recently-added GWS Tool Group has acquired Balax, Inc. as an addition to the conglomerate’s Walter division.
Engineering and manufacturing conglomerate Sandvik announced Aug. 2 that it has acquired North Lake, Wisconsin-based Balax, Inc., a supplier of carbide and HSS cut taps and roll forming taps, primarily within the general engineering and automotive segments.
Balax will be reported in Walter, a division in Stockholm, Sweden-based Sandvik’s Manufacturing and Machining Solutions business area.
The move follows Sandvik’s December, 2021 acquisition of Tavares, Florida-based GWS Tool Group, and Sandvik’s subsequent May bolt-on of Nashville, Tennessee-based tooling supplier Peterson Tool Company that was tucked into GWS.
“The acquisition of Balax is the second acquisition by GWS during Sandvik’s ownership and is well aligned with the shift to growth strategy,” said Stefan Widing, President and CEO of Sandvik. “Balax will strengthen our tap offering on the North American market.”
Sandvik noted that Balax has 66 employees and had 2021 revenues of $10 million.
Mike Hockett is MDM’s executive editor, having joined the publication in March 2022. He oversees MDM’s editorial content and direction, coordinates with contributing authors, conducts interviews with executives in the wholesale distribution space and serves as the editorial face of MDM at industry events. He has extensively covered the distribution and manufacturing sectors since 2014. Hockett earned a degree in print journalism from the University of Wisconsin-Eau Claire and works from his home in Madison, Wisconsin. He can be contacted at mike@mdm.com.
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