GWS Tool Group Acquires Taurus Tool & Engineering

Sandvik Acquires GWS Tool Group from L Squared Capital Partners

November 22, 2021

Manufacturing

Sandvik AB has agreed to acquire GWS Tool Group from L Squared Capital Partners and GWS management; GWS will be reported within Walter, Sandvik's machining solutions division. GWS, a Tavares, Florida-based manufacturer of made-to-order cutting tools (including PCD tools and taps) with ~490 employees and nearly $100M in revenue, was grown via multiple add-ons under L Squared; the purchase price was not disclosed and the deal is expected to close in Q4 2021.

GWS Tool Group Acquires STF Precision

October 20, 2020

Manufacturing

GWS Tool Group, a portfolio company of L Squared Capital Partners, has acquired STF Precision, a North Carolina-based manufacturer of precision PCD, SCD and CBN cutting tools. The add-on strengthens GWS's product capabilities in rotary PCD/CBN tooling and expands its manufacturing footprint into the Carolinas; STF's leadership will remain with GWS in operational roles.

L Squared Capital Partners Recapitalizes GWS Tool Group

September 18, 2019

Manufacturing

L Squared Capital Partners has partnered with GWS Tool Group management to recapitalize GWS Tool Group, with participation from incumbent sponsor Addison Capital Partners; financial terms were not disclosed. The recapitalization (with debt led by Varagon Capital Partners) provides a long-term capital base to support GWS’s acquisition-driven growth, geographic expansion, and continued investment in people and facilities.

GWS Tool Group Acquires Intrepid Tool Industries and North American Tool Corporation

February 3, 2020

Manufacturing

GWS Tool Group, a portfolio company of L Squared Capital Partners, completed two add-on acquisitions in January 2020, acquiring Intrepid Tool Industries (Phoenix, AZ) and North American Tool Corporation (South Beloit, IL). The acquisitions expand GWS's product capabilities, distribution channels and geographic reach as part of a broader consolidation strategy in custom cutting/tooling manufacturing.

GWS Tool Group Acquires CJT Koolcarb, Inc. and GenHam Diamond Tooling

April 20, 2021

Manufacturing

L Squared Capital Partners' portfolio company GWS Tool Group has acquired CJT Koolcarb, Inc. and its PCD operating subsidiary GenHam Diamond Tooling. CJT (Carol Stream, IL) produces carbide and carbide-tipped drills and reamers while GenHam supplies diamond/PCD tooling; the add-on expands GWS's holemaking capabilities and capacity across aerospace, automotive and other advanced machining markets. The deal is GWS's second acquisition in 2021 and the fifth add-on since L Squared's platform investment in 2019.

Taurus Industrial Group Acquires Bolttech Mannings

February 14, 2023

Industrial Services

Taurus Industrial Group, a portfolio company of SCF Partners, has acquired Bolttech Mannings, Inc., a specialist in technical bolting, heat treating, leak sealing, hot tapping and non-destructive testing serving power generation, downstream and industrial markets. The acquisition expands Taurus's technical capabilities and geographic footprint, enabling cross-selling into power, energy and industrial customers.