Walter to acquire Portugal-based PCD tools manufacturer 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.