Monday, May 20, 2024

Sandvik to Acquire US-based CAM Reseller Cimquest

STOCKHOLM, Sweden, Feb 27, 2024 – Sandvik has signed an agreement to acquire Cimquest, a US based reseller of Computer Aided Manufacturing (CAM) solutions and one of the largest resellers in the Mastercam network. With the acquisition, Sandvik strengthens its position in the CAM market and further builds on its capabilities to serve customers and expand the customer base. Cimquest will be a part of business unit Mastercam and will be reported within business area Sandvik Manufacturing and Machining Solutions.

Cimquest has since 1990 been a reseller of Mastercam, a global leading provider of CAD/CAM software solutions for manufacturing industries, owned by Sandvik. In addition to reselling Mastercam, Cimquest is a distributor of additive products, mainly 3D printers for both metal and polymers.

“The acquisition of Cimquest is another step in our strategic direction to grow in the digital manufacturing space, and an important investment in Mastercam’s channels. This will strengthen our presence within CAM, expand our ability to serve customers and improve our growth platform going forward,” says Stefan Widing, President and CEO of Sandvik.

Cimquest, founded in 1990, is headquartered in Branchburg, New Jersey, and has 55 employees. In 2023, the company had revenues of around 26 MUSD*. The impact on Sandvik’s EBITA margin will be limited. Impact on earnings per share will be positive. The parties have agreed not to disclose the purchase price.

*A limited part of Cimquest revenues in 2023 were to Sandvik-owned Mastercam and will not impact Group total external revenues.

About Sandvik Group

Sandvik is a global, high-tech engineering group providing solutions that enhance productivity, profitability and sustainability for the manufacturing, mining and infrastructure industries. We are at the forefront of digitalization and focus on optimizing our customers’ processes. Our world-leading offering includes equipment, tools, services and digital solutions for machining, mining, rock excavation and rock processing. In 2022 the Group had approximately 40,000 employees and revenues of about 112 billion SEK in about 150 countries within continuing operations. 

For more information, visit https://www.home.sandvik.

Nitin Patil
Nitin Patil
Editor and Director of Content, DailyCADCAM.com. Nitin completed his Master's in Mass Communication & Journalism and having 13 years of work experience as an editor, content writer with renowned international technical magazines and media companies. He is associated with CAD,CAM industry since 2008.
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