GWS Tool Group Announces Acquisition of STF Precision (STF)
The acquisition of STF Precision enhances the GWS product portfolio and capabilities in the area of PCD and CBN solutions and further expands the GWS manufacturing presence into the Carolinas.
Tavares, FL October 20, 2020 – GWS Tool Group is pleased to announce it has acquired STF Precision. STF is the third add-on acquisition in 2020 for GWS.
Located near Asheville, North Carolina STF is a leading manufacturer of precision cutting tools, primarily in the categories of polycrystalline diamond tools (PCD), single-crystal diamond tools (SCD), and Cubic Boron Nitride (CBN). The company’s product capability portfolio includes brazed PCD-rotary tools for non-ferrous materials, PCD 8-facet drills for aerospace composites, PCD grooving inserts for automotive applications, and multi-stepped brazed PCD monoblock tools.
The company has the equipment and experience to design, manufacture and regrind tooling for a wide variety of applications, including boring, grooving, turning, and profiling difficult-to-machine materials such as high-silicon aluminum, composites, carbon fiber, and plastics. With the addition of STF, GWS further solidifies its position as the premier multi-disciplinary manufacturer of high-performance cutting tools in the marketplace today.
“STF is an ideal fit for our organization,” said Rick McIntyre, GWS CEO. “The experience and know-how of the team that we are bolting on, combined with their proprietary manufacturing processes that they have developed over time, will create immense value for GWS customers. Rotary PCD tooling has been a limited category for GWS for some time, and this fills some of those gaps perfectly” McIntyre continued.
“I am very excited for STF Precision to be joining GWS Tool Group,” said Jason Ford, co-owner and President of STF Precision. “We have accomplished a lot at STF, feel strongly about our ability to produce some of the most precise and capable products in the industry, and are incredibly excited about the GWS engine being able to expand our reach.”
Jason Ford will continue with the GWS team as the General Manager for the North Carolina manufacturing operations and co-owner and vice president, David Novak, will be joining the GWS leadership team as Director of Systems and Integration.
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 area of custom 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 serves as the respective manufacturing divisions for the company.
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