SDVKF - Sandvik to acquire U.S. based round tools manufacturer GWS Tool Group

Sandvik (OTCPK:SDVKF) has signed an agreement to acquire 100% of the equity interests of the U.S. based company GWS Tool Intermediate Holdings LLC from its beneficial owners, L Squared Capital Partners and GWS management. GWS is an established provider of made-to-order round tools with a large exposure to the general engineering and aerospace segments. The parties have agreed not to disclose the purchase price. The transaction is expected to close during Q4 2021. The Company will be reported in Walter, a division within the business area Sandvik Manufacturing and Machining Solutions. GWS has had strong revenue growth historically, and is expected to grow at a high single digit organic growth rate in the medium term. The impact on Sandvik's EBITA margin and EPS will initially be neutral.

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Sandvik to acquire U.S. based round tools manufacturer GWS Tool Group