Mirka Oy, one of the world’s leading abrasives and power tools manufacturer, announces the acquisition of 100 % of the shares of Cafro, a manufacturer of superabrasive wheels and tools. Mirka is part of the Finnish family owned KWH Group and offers a complete range of sanding solutions for high quality surface finishing. The acquisition is an integral part of Mirka’s strategy to expand its business and product portfolio in the field of superabrasives and grinding solutions.
According to Mirka’s CEO Stefan Sjöberg, Cafro’s specialized knowledge and manufacturing capabilities and Mirka’s global presence create an excellent match for rapid business expansion. For Mirka, the acquisition of Cafro is a cornerstone for developing the business in precision grinding. In the future, the customers of both companies will benefit from a comprehensive offer of surface finishing and grinding solutions. For Cafro, the acquisition is an attractive opportunity to expand the business in the global market.
Background information on the parties of the acquisition
Mirka Oy, part of the Finnish family owned KWH Group, is a market leader in surface finishing technologies, offering comprehensive sanding solutions, a wide range of abrasive and polishing products and innovatively designed tools. In 2016, Mirka achieved a turnover of 240 million euros, of which 96 % was generated by exports. Mirka employs 1100 professionals in Finland and in 16 subsidiaries worldwide.
Cafro S.p.A., an Italian family owned company, is a market leader in the field of diamond and CBN wheels as well as PCD and PCBN tools. Cafro’s tools are most typically used in precision grinding, turning and milling operations. In 2016, Cafro’s turnover was 10 milion euros, 43 % coming from exports. Cafro has 79 employees in its production site in Italy and as sales representatives in 25 different countries globally.
ProMan IMAP Finland was the buyer’s advisor in the acquisition.