Sandvik completed the acquisition of GWS Tool Group from L Squared.

Sandvik, a Swedish multinational engineering company, completed the acquisition of GWS Tool Group, a US-based round tools manufacturer, from L Squared, a private equity firm. Financial terms were not disclosed. "With the acquisition of GWS, we take an important step in our shift to growth strategy where we have a clear ambition for our machining solutions business to increase market share in round tools and to enhance our presence in the North American market," Stefan Widing, Sandvik CEO and President.