JEPPO, Finland--(BUSINESS WIRE)--The world leading abrasives and power tools manufacturer Mirka Ltd. announces the acquisition of 100 % of the shares of the Italian superabrasive wheels and tools manufacturer Cafro S.p.A. Mirka is part of the Finnish family owned KWH Group and offers a complete range of superior sanding solutions for high quality surface finishing. The acquisition is an integral part of Mirka’s strategy to expand its business in the field of superabrasives and grinding solutions.
“As we welcome Cafro into the Mirka Group, we are really excited about the new opportunities we can create together. There is an excellent match between Cafro’s specialized knowledge and manufacturing capabilities and Mirka’s global market presence. I foresee a rapid expansion as we join our forces” says Mirka’s Chief Executive Officer Stefan Sjöberg.
The family owned Cafro S.p.A., based in Como, Italy, is a leading manufacturer of Diamond and CBN (Cubic Boron Nitride) wheels as well as PCD (Polycrystalline Diamond) and PCBN (Polycrystalline CBN) tools. For Cafro the acquisition represents an excellent opportunity to expand its business globally.
“This is a great opportunity for Cafro. The next evolution step of our business, to build a truly global market, can now happen. We have over the years systematically developed our unique products and processes, thereby becoming one of the only manufacturers who can offer a complete range of superabrasive products for the precision mechanics industry. Now we can fast-track our growth together with Mirka”, says Cafro’s newly appointed Managing Director Mario Mancina.
The third generation of the Mancina family, owners of Cafro since 1955, will continue to lead the Cafro business within the Mirka Group.
“The acquisition of Cafro is a corner stone in the portfolio we are now building in the area of precision grinding. Mirka’s and Cafro’s customers will see the benefit of a broad and complete offer of surface finishing and grinding solutions” Stefan Sjöberg concludes.
ProMan IMAP Finland was the buyer’s advisor in the acquisition.
Press material: http://www.mirka.com/mirka-cafro