GWS Tool Group Acquires Peterson Tool Co.
The acquisition of Peterson Tool Co. is designed to strengthen GWS’ capability in custom tooling for the screw machine industry and specialty turning applications.
Edited by Angela Osborne
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Photo Credit: Peterson Tool Co.
GWS Tool Group has reached an agreement to acquire Peterson Tool Co. The transaction is subject to customary regulatory approvals and closing conditions, with a closing expected to occur during the second or third quarter of 2022.
Located in Nashville, Tennessee, Peterson Tool Co.’s focus is on providing precise, carefully engineered carbide tools. With over 60 years in business, Peterson Tool says it has been committed to delivering high-quality, application-specific tooling solutions. Its in-house manufacturing includes engineering and design, EDM, machining, grinding, round tool grinding, quality control and shipping.
“Peterson Tool Company has tremendous expertise in providing custom tooling solutions,” says Rick McIntyre, GWS CEO. “Their unique approach to engineered form tool technology perfectly aligns with the GWS ‘Custom Comes Standard’ mantra.”
Peterson’s capability to produce machine-specific custom insert tooling solutions is said to blend seamlessly with GWS’ specialized insert production expertise and creates another productivity enhancement resource for GWS customers.
“I am very excited for Peterson Tool Co. to be joining GWS Tool Group,” says Diane Peterson Edwards, Peterson Tool president and CEO. “Our workholding and machine-optimized tooling capability will complement the cutting tool capability of GWS in a way that will undoubtedly increase value for our customers and fuel future growth for years to come.”
This is the first acquisition by GWS in 2022 after an active 2021 where five acquisitions were achieved. This is also the first add-on acquisition by GWS since joining Walter and Sandvik family of companies in December 2021.
