Ceratizit Group acquires Klenk

Warren, Michigan – Ceratizit S.A. has acquired the German manufacturer of solid carbide cutting tools Klenk GmbH & Co. KG. With this acquisition, the Ceratizit Group augments its product portfolio with customized solutions for solid carbide round tools. The purchase is part of the worldwide acquisition strategy and reinforces the positioning of the Ceratizit Group as a provider of all kinds of cutting tools. The acquisition of Klenk further advances Ceratizit’s growth in the medical, aerospace, and automotive technology industries.

"It is our aim to be perceived as a global premium player for all cutting tools," explains Thierry Wolter, member of the Executive Board of the Ceratizit Group. "With this acquisition we are expanding the product portfolio."

At the same time, Klenk will profit from the global sales network of the Ceratizit Group and its strong presence on the world market. For its production, Klenk will be able to draw rods and blanks from the competence brand Toolmaker Solutions by Ceratizit. The solid carbide tool manufacturer’s own "Klenk" brand will be kept. The takeover by Ceratizit was signed on May 28, 2015, pending the approval of the antitrust authorities. Both private companies have agreed not to disclose any financial details.

Growth in target sectors
The acquisition provides a spurt in the growth of the Ceratizit Group in important target sectors as Klenk mainly produces solutions for the medical, aerospace, as well as the automotive technology industries.

About Klenk
Klenk has been manufacturing carbide cutting tools since 1959 and counts 120 employees at its site in Balzheim, Germany. Managing Director Horst Klenk, son of the company’s founder, Rolf Klenk, has been running the company since 1976. The solid carbide tool manufacturer makes over 85% of its turnover with special tools for drilling, countersinking, reaming and milling as well as regrinding and diamond-coated tools. These tool solutions are used in the machining of carbon fiber-reinforced plastics, titanium, and aluminum alloys or steels for the medical, aerospace, and automotive technology industries.

Source: Ceratizit