Sandvik AB, Stockholm, Sweden, has signed an agreement with Battery Ventures to acquire U.S.-based Cambrio, which has a portfolio in CAD/CAM software for manufacturing industries such as automotive, transportation, energy, medical and aerospace. Cambrio will be reported in the Design & Planning Automation division within Sandvik Manufacturing and Machining Solutions.
“This is in line with our strategic focus to grow organically and through acquisitions in the advanced manufacturing space, with special focus on industrial software close to component manufacturing, industrial metrology- and additive manufacturing solutions. Cambrio will enable a broadened customer offering, covering more of the total manufacturing value chain,” said Stefan Widing, President and CEO of Sandvik.
By acquiring Cambrio, Sandvik says it will establish a position in the CAM market that includes both toolmaking and general-purpose machining, complementing the existing customer offering in Sandvik Manufacturing Solutions.
Cambrio’s product portfolio includes GibbsCAM for production milling, turning, and mill turn operations, Cimatron for mold and die, as well as SigmaNEST for sheet metal fabrication.
“With the addition of Cambrio’s product offering, we will be able to help our customers to further increase productivity in the broader value chain. We share the same desire to automate workflows and make our customers more efficient and sustainable. I look forward to welcoming the Cambrio team to Sandvik,” said Mathias Johansson, president of the Design & Planning Automation division in Sandvik Manufacturing Solutions.
Cambrio is headquartered in Ohio and has 375 employees. In 2020, the company had revenues of about SEK 628 million ($68 million) with an EBIT margin slightly dilutive to Sandvik Manufacturing and Machining Solutions. Impact on Sandvik’s earnings per share will initially be neutral. The parties have agreed not to disclose the purchase price.
The transaction is expected to close in the second half of 2021 and is subject to customary regulatory approvals.
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