Sandvik Acquires GWS Tool Group from L Squared Capital Partners

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.