GWS Tool Group Acquires STF Precision

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 Taurus Tool & Engineering

January 19, 2021

Manufacturing

GWS Tool Group, a portfolio company of L Squared Capital Partners, has acquired Taurus Tool & Engineering, a Batavia, Illinois-based manufacturer of precision custom cutting tools. The transaction is an add-on acquisition that expands GWS's capabilities in high-speed steel (HSS) and carbide hole-making and milling tools for aerospace and automotive applications.

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.

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.

G.S. Precision Acquires SMC Aerospace

March 25, 2022

Manufacturing

G.S. Precision, a portfolio company of AE Industrial Partners, has acquired SMC Aerospace, a family-owned manufacturer of engineered tubes and machined components serving the aerospace and defense markets. The add-on expands G.S. Precision’s capabilities in precision tube and machined part manufacturing and will integrate SMC’s New Hampshire facilities and leadership into GSP operations.