Walter Surface Technologies has acquired Greenfield Industries, a US-based manufacturer of branded and private label cutting tools.

Walter and Greenfield Industries share a strong focus on providing solutions and answering the needs and challenges facing industrial end-users. With the addition of Greenfield to Walter's portfolio, the company said it can help its customers to be more productive with effective and durable cutting tool solutions for a broad subset of applications.

"We are very excited to welcome Greenfield Industries to the Walter family," said Marc-André Aubé, CEO of Walter.

Greenfield brings to Walter its premium USA-made brands including Cleveland, Chicago-Latrobe, Cle-Line, Greenfield Threading, and its robust manufacturing capabilities and infrastructure.

"Walter is always looking to provide solutions that answer the needs and challenges facing end-users in the metalworking industry. Now, with this acquisition, Walter is a primary supplier of tooling and drilling solutions in North America," said Aubé. "This transaction is an unequaled opportunity to position Walter as a primary supplier of tooling and drilling solutions in North America as we continue to evaluate other growth strategies, namely through accretive acquisitions."

Ty Taylor, president of Greenfield Industries, welcomed the new relationship: "We saw in this opportunity the perfect alignment of both products and values. We are proud to see Greenfield adding its tooling and drilling solutions to Walter's renowned and robust offering. We are confident this is a strong pathway to growth."

Following this transaction, Greenfield Industries will continue to operate under its respective brands. The transaction is effective immediately, and activities for both customers and suppliers remain unchanged.