# Sandvik to acquire Miranda Tools' business

Dormer Pramet, a division of Sandvik Machining Solutions, has agreed to acquire the entire business of Indian company Miranda Tools, which manufactures high-speed steel and solid carbide round tools. The transaction is expected to close in Q3 2020.

- Type: Acquisition
- Announced: 2020-06-18
- Where: Mumbai, Gujarat, India
- Jobs: 580
- Status: announced
- Products: high-speed steel round tools, solid carbide round tools
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Sandvik](https://endata.com/companies/6190.md) (acquirer)
- [Dormer Pramet](https://endata.com/companies/18589.md) (acquirer)
- [Miranda Tools](https://endata.com/companies/47979.md) (target)
- [Ashok Piramal Group](https://endata.com/companies/48002.md) (partner)

## Sources

- [prnewswire.com](https://www.prnewswire.com/news-releases/sandvik-acquires-miranda-tools-business-301079651.html), 2020-06-18: "The acquisition is aligned with Sandvik Machining Solutions' focus on strengthening our round tools offer whilst also adding greater production capacity and flexibility to support long-term growth."
- [prnewswire.com](https://www.prnewswire.com/news-releases/miranda-tools-has-agreed-to-sell-its-high-speed-steel-cutting-tools-business-to-dormer-pramet-301079791.html), 2020-06-18: "The acquisition is aligned with Sandvik Machining Solutions' focus on strengthening our round tools offer whilst also adding greater production capacity and flexibility to support long-term growth."
- [dealstreetasia.com](https://www.dealstreetasia.com/stories/ashok-piramal-miranda-sandvik-193557), 2020-06-19: "India: Ashok Piramal group to sell Miranda Tools to Swedish firm Sandvik"
- [oemupdate.com](https://www.oemupdate.com/news/dormer-pramet-agrees-to-acquire-business-of-india-based-miranda-tools/), 2020-06-27: "Dormer Pramet has agreed to acquire the business of India-based Miranda Tools, a manufacturer of High-Speed Steel (HSS) and solid carbide cutting tools, subject to conditions."
- [etmm-online.com](https://www.etmm-online.com/dormer-pramet-aquires-miranda-tools-a-946295/), 2020-07-06: "I am very pleased to have reached an agreement to acquire the business of Miranda Tools and look forward to welcoming them into the Dormer Pramet family."
- [machinery-market.co.uk](https://www.machinery-market.co.uk/news/27442), 2020-07-07: "I am very pleased to have reached an agreement to acquire the business of Miranda Tools and look forward to welcoming them into the Dormer Pramet family."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.