L Squared Capital Leads Investment in GWS Tool Group
Investment will support GWS’ continued consolidation of the consumable cutting tools sector.
L Squared Capital Partners and GWS Tool Group announced that L Squared has partnered with GWS management to recapitalize the company. Financial terms of the transaction were not disclosed.
GWS represents L Squared’s 10th platform investment over the last five years. GWS is a provider of high performance consumable cutting tools. L Squared’s investment provides a long-term capital base to support the company’s ongoing and rapid evolution.
“We are thrilled to partner with the L Squared team to support the continued development of GWS as a powerful player within the cutting tool universe,” says Rick McIntyre, CEO of GWS.
“We have been extremely impressed by the company’s track record of growth and commitment to operational excellence—GWS has proven to be a strategic partner with its customers, developing custom solutions for some of the most complex manufacturing environments,” says Randall Hunt, Partner of L Squared. “Our family office capital base and long-term investment horizon is well suited to support the company’s investment in its capabilities and pursuit of accretive acquisitions.”
This transaction provides capital to further the GWS acquisition strategy, helping to accelerate the expansion of the company’s geographic footprint to support even more localized customer need, and positions GWS as the partner of choice for other cutting tool companies when it is time for them to pursue a sale. Moreover, GWS plans to accelerate investment in its people as well as its facilities. These investments will further reinforce the company’s product quality, delivery times and overall customer satisfaction.
