GWS Tool Group, a portfolio company of Addison Capital Partners, has acquired Alliance CNC Cutter Grinding Services.
Alliance CNC is a designer and manufacturer of application-specific drills, reamers and other micro-tools. The company was founded in 1995 and is headquartered in Grand Rapids, MI (www.alliancecnc.com).
GWS Tool Group was formed by Addison Capital in August 2014 to acquire GW Schultz Tool. In December 2017, GWS Tool completed its first add-on acquisition with the buy of Carbide Grinding (CGI), a Chesterfield, IN-based maker of carbide, PCD (polycrystalline diamond) and CBN tipped (cubic boron nitride) tooling.
With the close of the Alliance acquisition, GWS Tool is now a vertically integrated manufacturer of custom, standard and modified standard carbide cutting tools and inserts, primarily servicing the aerospace and defense, automotive, medical device, power generation and semiconductor sectors. The company is headquartered near Orlando in Tavares, FL (www.gwstoolgroup.com).
“Alliance is a tremendous fit for our organization,” said Rick McIntyre, CEO of GWS Tool. “While our organization has a deeply rooted skill set and reputation within the round tool space, our GW Schultz division is focused predominately on end mills. Adding a hole-making focus in addition to the insert offering we bolted on last year with CGI, further strengthens our already dynamic value proposition at the spindle.”
Addison Capital Partners invests in companies with EBITDA of between $1 million and $10 million. The firm is an industry generalist but has a specific interest in specialty chemicals and industrial materials; healthcare and life sciences (specialty pharma, diagnostics and medical devices); and defense and aerospace. Addison Capital Partners is headquartered in West Palm Beach, FL (www.addisoncapitalpartners.com).
Alliance CNC will continue to operate out of its facility in Grand Rapids under the direction of its current management team. “It has been a fulfilling journey for me in the building and development of Alliance CNC,” said founder Richard Czarniecki. “I am so excited for my wonderful team of people and the customer base that has come to rely on us to now be a part of GWS Tool.”
© 2018 Private Equity Professional | February 26, 2018
