63.4 F
Laguna Hills
Saturday, Jun 21, 2025
-Advertisement-

L Squared to Sell GWS to Sandvik

L Squared Capital Partners, a Newport Beach-based private equity firm, said it’s selling the GWS Tool Group to Swedish manufacturing giant Sandvik AB.GWS Tool Group, a provider of highly engineered consumable cutting tools with headquarters in Florida,, will be under the Walter division within the Sandvik Manufacturing and Machining Solutions.

“We are grateful for our partnership with the executive leadership team at GWS, notably Rick McIntyre as CEO,” said Randall Hunt, a partner at L Squared.

L Squared invested in GWS in 2019, saying it was in a fragmented industry of regional cutting tools. In the past four years, GWS has completed 10 add-on acquisitions that resulted in the company growing revenue from less than $10 million to approximately $100 million. It services primarily the aerospace and defense, power generation, automotive and medical sector

It marks the seventh exit for L Squared Capital Partners, which was formed in 2014. Sandvik AB, which has 37,125 employees worldwide, is a multinational engineering company specializing in a variety of manufacturing and construction industries.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

Would you like to subscribe to Orange County Business Journal?

One-Year for Only $99

  • Unlimited access to OCBJ.com
  • Daily OCBJ Updates delivered via email each weekday morning
  • Journal issues in both print and digital format
  • The annual Book of Lists: industry of Orange County's leading companies
  • Special Features: OC's Wealthiest, OC 500, Best Places to Work, Charity Event Guide, and many more!

Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-