GWS Tool Group has acquired Welland, Ontario-based Indexable Cutting Tools, an insert production and precision-cutting technology company focused on the manufacturing sector. No financial terms were disclosed. GWS, a Tavares, Florida-based consumable cutting tools provider, was recapitalized in 2019 in a deal led by L Squared Capital Partners.
TAVARES, Fla., June 8, 2021 /PRNewswire/ — GWS Tool Group is pleased to announce it has acquired Indexable Cutting Tools, Inc. This is the third acquisition in 2021 for GWS Tool Group, and the first international acquisition by the US based manufacturer.
Located in Welland, Ontario Canada and Edmonton, AB, Canada, Indexable is a technology leader in the manufacturing and distribution of ceramic, PCD and CBN inserts. For more than 50 years, mastery of insert production and precision cutting technology has provided manufacturers around the world with an edge in operational efficiency.
The company supports an array of the world’s largest manufacturing companies with its products. From automotive and powertrain customers to commercial and defense aerospace manufacturers, Indexable has used its model of quality and flexibility to deliver what few others can. With six global patents surrounding their microwave sintering processes, Indexable can output ceramic inserts with ultra-fine-grained microstructures that yield increased hardness, toughness, and thermal stability versus traditional ceramic grades in the same categories. Their emphasis on quality, which is supported by their ISO9001:2015 certification, aligns perfectly with that of the ongoing quality signature GWS demands. With the addition of indexable, GWS further solidifies its position as the premier multi-disciplinary manufacturer of high-performance cutting tools in the marketplace today.
“Indexable has a tremendous reputation for producing some of the most innovative and high-quality insert products in the industry,” said Rick McIntyre, GWS’ CEO. “Their expertise in the areas of ceramic material science is ahead of its time and will undoubtedly bolster our current and future ability to serve the rapidly evolving manufacturing industry,” McIntyre continued.
“I am very excited for Indexable Cutting Tools to be joining GWS Tool Group,” said John Precious, President of Indexable. “Emphasis on quality and innovative manufacturing techniques is what sets us apart, and in this and so many other ways, we align completely with GWS’s value proposition. I couldn’t be happier about becoming part of it.” The continued expansion of GWS by way of acquisitions and constant investment in world class technology, equipment and most importantly, people, has created an unmatched value proposition for customers operating in advanced machining environments, especially in the areas of custom round and insert tooling.
About GWS Tool Group
GWS Tool Group is a US-based, vertically integrated manufacturer of highly engineered custom, standard, and modified standard cutting tools, primarily servicing the aerospace and defense, power generation, automotive and medical sectors. GWS Tool Group has acquired multiple businesses in the course of its growth which now serve as the respective manufacturing divisions for the Company.