SDVKY - Sandvik completes the acquisition of US based round tools manufacturer GWS Tool Group

PR Newswire

STOCKHOLM , Dec. 23, 2021 /PRNewswire/ -- 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.

For further information, contact Louise Tjeder , VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.

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https://news.cision.com/sandvik/r/sandvik-completes-the-acquisition-of-us-based-round-tools-manufacturer-gws-tool-group,c3477922

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SOURCE Sandvik