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

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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SOURCE Sandvik