November 21, 2017
SUBJECT: GWS Tool Group Announces Acquisition of Carbide Grinding Company, INC
TAVARES, FL – GWS Tool Group, LLC, the parent company to GWS Tool Group announces its acquisition of Carbide Grinding Company, Inc of Chesterfield, Indiana USA.
Carbide Grinding has built its reputation as a manufacturer of precision carbide, PCD and CBN tipped insert tooling servicing the automotive, aerospace, power generation and medical sectors at a high level since 1958. They are known by many in the metalworking space as one of the very best in their field.
“We are so excited to be bringing Carbide Grinding and their dynamic team and offering into the fold” said Rick McIntyre, CEO of GWS Tool Group. “Since partnering with Addison Capital Partners in 2014, we have made it our mission to further what’s been done in Florida for 30 years, which is to create as much value at the point of cut as possible with the most precise and reliable products the cutting tool industry has to offer. The addition of Carbide Grinding gives us an insert tooling option to complement our existing round tool expertise that we believe will create a great deal of value for current and future customers alike.”
Carbide Grinding will continue to operate out of their facility in Indiana under brand name CGI Tool, with the same leadership team and production force on site that the market has come to know over the last several decades.
“It has been my honor, pleasure to be a part of building CGI into to what it is today, and I am so thrilled that we found the right stewards partners in GWS and Addison Capital Partners to carry it forward” said Bob Pensec, President/CEO and seller of CGI.
For more information, please visit www.GWSToolGroup.com or contact Adam Lafferty, EVP of Sales and Marketing for GWS Tool Group.