STOCKHOLM, Sweden, Dec 23, 2021 – 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.
The company will be reported in Walter, a division within the business area Sandvik Manufacturing and Machining Solutions.
About Sandvik Group
Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and sustainability. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2020, the Group had approximately 37,000 employees and revenues of about 86 billion SEK in more than 160 countries within continuing operations. For more information, visit https://www.home.sandvik/en.