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L Squared Capital Partners to sell GWS Tool Group to Sandvik

L Squared Capital Partners is to sell GWS Tool Group, a provider of highly engineered consumable cutting tools, to Sandvik. 

GWS will be reported in Walter, a division within the business area Sandvik Manufacturing and Machining Solutions. 

The acquisition of GWS will support Walter’s growth strategy in North America and strengthen its solid carbide tools offering. This acquisition represents a strategic opportunity to increase Walter’s and GWS’ respective positions in the manufacturing of advanced components and light-weight materials.

“We are grateful for our partnership with the executive leadership team at GWS, notably Rick McIntyre as CEO,” says Randall Hunt, Partner at L Squared. “Rick’s leadership and vision enabled GWS to expand rapidly while creating an unmatched value proposition for GWS customers.”

A cornerstone of the GWS investment thesis was the opportunity to consolidate the fragmented landscape of high-performance cutting tools providers. L Squared was steadfast in the execution of this thesis by supporting GWS’ rapid growth by way of acquisitions and constant investment in world class technology, people and equipment. In the past four years, GWS has consummated ten add-on acquisitions that resulted in the company growing revenue from less than USD10 million to approximately USD100 million.

“L Squared has been an excellent partner for our rapid growth trajectory,” says Rick McIntyre. “L Squared has provided the necessary resources to achieve our primary objective of becoming one of the premier metalworking companies in the world. I’d like to thank them for the great partnership that has culminated in this outstanding result for all stakeholders.”

L Squared and GWS were advised on the transaction by BlackArch Partners LLC and Vedder Price PC.

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