M&A Deal Summary

Sandvik Acquires GWS Tool

On November 22, 2021, Sandvik acquired manufacturer GWS Tool from L Squared Capital Partners and Banyan Investment Partners

Acquisition Highlights
  • This is Sandvik’s 10th transaction in the Manufacturing sector.
  • This is Sandvik’s 17th transaction in the United States.
  • This is Sandvik’s 1st transaction in Florida.

M&A Deal Summary
Date 2021-11-22
Target GWS Tool
Sector Manufacturing
Buyer(s) Sandvik
Sellers(s) L Squared Capital Partners
Banyan Investment Partners
Deal Type Add-on Acquisition

Target

GWS Tool

Tavares, Florida, United States
GWS Tool is a manufacturer of engineered custom, standard, and modified standard cutting tools, primarily servicing the aerospace and defense, power generation, automotive, and medical sectors. GWS Tool was formed in 2014 and is based in Tavares, Florida.

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Buyer(S) 1

Buyer

Sandvik

Stockholm, Sweden
Category Company
Founded 1862
Sector Engineering
Employees40,344
Revenue 126.5B SEK (2023)
DESCRIPTION

Sandvik operates as a global engineering company. Sandvik is a high-technology and global industrial group that produces products and services that enhance customer productivity, profitability and safety. Sandvik was founded in 1862 and is based in Stockholm, Sweden.

DEAL STATS #
Overall 34 of 55
Sector (Manufacturing) 10 of 20
Type (Add-on Acquisition) 29 of 49
State (Florida) 1 of 1
Country (United States) 17 of 23
Year (2021) 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 Gerling

Halle, Germany

Gerling is a precision tube engineering company serving multiple industries including the fast-developing hydrogen market. The offering includes innovative engineering solutions, such as high-pressure control technology in hydrogen refueling stations. Gerling is based in Hörste, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-25 ICAM

Sainte-Anne-de-Bellevue, Quebec, Canada

ICAM is a provider of innovative solutions that translate CAM data into optimized coding for guiding CNC machining operations. ICAM was founded in 1971 and is based in Sainte-Anne-de-Bellevue, Quebec.

Buy -

Seller(S) 2

SELLER

L Squared Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
PE ASSETS 550M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

L Squared Capital Partners is a private investment group focused on long-term investments in lower middle-market growth companies with $15 to $100 million in revenue. The Firm looks to commit $30 to $100 million per transaction and will consider opportunities throughout North America. Sectors of interest include tech-enabled services, industrial technology, and education. L Squared Capital was established in 2014 and is headquartered in Newport Beach, California.

DEAL STATS #
Overall 4 of 6
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Florida) 1 of 2
Country (United States) 4 of 6
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-29 Heggerty

Oak Park, Illinois, United States

Heggerty is an early childhood literacy solutions provider offering a comprehensive suite of phonemic and phonological awareness solutions. Heggerty’s product offering is anchored by its daily systematic phonemic and phonological awareness curriculum delivered in print and digital modalities that are used by more than 250,000 educators spanning from early pre-K to 5th grade. Heggerty was founded in 2003 and is based in Oak Park, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-15 Foundant Technologies

Bozeman, Montana, United States

Foundant Technologies is a provider of mission-critical software solutions for the philanthropic sector. The company provides a suite of purpose-built, comprehensive software solutions that allow philanthropists to simplify their daily operations and have a greater impact on their communities. Foundant Technologies was founded in 2006 and is based in Bozeman, Montana.

Buy -
SELLER

Banyan Investment Partners

Miami, Florida, United States

Investor

Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 550M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Banyan is a specialty finance firm that provides mezzanine capital to smaller middle-market companies headquartered primarily in the Southeast US. Banyan looks to invest $5 to $25 million of junior capital in profitable companies. The Firm does not have any industry preferences, however, Banyan will not invest in real estate development, oil and gas exploration, direct lenders, start-ups or turn-around situations. Banyan Mezzanine was formed in 2002 and is based in Miami, Florida.

DEAL STATS #
Overall 19 of 22
Sector (Manufacturing) 1 of 2
Type (Add-on Acquisition) 12 of 14
State (Florida) 6 of 7
Country (United States) 19 of 22
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-26 CareFinders

Hackensack, New Jersey, United States

CareFinders is a personal care provider in the Northeast, with a scaled presence in New Jersey, Pennsylvania, and Connecticut. The company delivers approximately 10 million hours of care annually to over 7,500 patients through its more than 6,200 caregivers. CareFinders was founded in 1995 and is based in Hackensack, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-20 SST Conveyor Components

Loveland, Ohio, United States

SST Conveyor Components is a designer and manufacturer of specialized conveyor components serving the material handling, distribution, and conveyor systems integration markets. SST Conveyor produces high-quality straight, tapered, grooved, and custom rollers, bearing assemblies, and pulleys tailored to meet the unique requirements of each customer. SST Conveyor Components was founded in 1957 and is based in Loveland, Ohio.

Sell -
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