The 2020 Mid-Year Economic Update_long

Sandvik Acquires Inrock

Swedish manufacturer acquires Houston-based supplier of rock drilling tools and services.

Sandvik, Stockholm, Sweden, has acquired privately owned Inrock, a supplier of rock drilling tools and services for Horizontal Directional Drilling (HDD) in North America. Headquartered in Houston, Inrock provides pilot hole bits, reamers, guidance systems, accessories and services for the premium maxi rig segment within HDD.

The deal further develops Sandvik’s HDD product portfolio to customers operating and servicing infrastructure applications such as oil and gas pipelines, water and sewer, telecommunications, electricity, and alternative energy production and storage. This includes expanding into the midi rig segment, accelerating the global footprint of the business, the company said.

Separately, Sandvik announced that it has completed the divestment of its Hyperion business to the U.S.-listed investment firm KKR. The transaction represents the final divestment of all assets in its Other Operations, the company said.

 

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