Sandvik completes the acquisition of US based round tools manufacturer GWS Tool Group
Sandvik has completed the previously announced acquisition of the 100% equity interests of the US based company GWS Tool Intermediate Holdings LLC (“GWS” or the “Company”) from its beneficial owners, L Squared Capital Partners and GWS management. GWS is an established and fast growing provider of made-to-order round tools with a large exposure to the general engineering and aerospace segments. For 2021, on a pro forma basis, the company is expected to have revenues of approximately SEK 875 million. The impact on Sandvik’s EBITA margin and earnings per share will initially be neutral.