A major acquisition in the US cutting tool market was announced earlier this month, with GWS Tool Group making its second bolt-on addition already in 2020.
Tavares, FL-based GWS announced Feb. 4 that it has acquired North American Tool Corporation (NATC), a fellow supplier of special taps, dies and gages. South Beloit, IL-based NATC's product portfolio range includes solid carbide thread mills and high-speed steel taps and thread gages, supplying specialized threading tools purpose-built for industries that include automotive, aerospace, medical and engineering.
GWS — which announced the acquisition of Phoenix, AZ-based cutting tool supplier Intrepid Tool Industries on Jan. 7 — said the NATC addition further strengthens its reputation "as the premier multi-disciplinary manufacturer of high-performance custom cutting tools in the marketplace today."
Terms of the deal were not disclosed.
"NATC is an exciting add for us,” said Rick McIntyre, GWS chief executive officer. "Their customer service model is one of the best in the business and their focus in taps and threadmills fits in like a perfect puzzle piece to our dynamic and holistic offering. We are very excited to be continually expanding our value proposition for our customers with highly additive acquisitions like this."
GWS describes itself as a 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. The additions of NATC and Intrepid Tool follow GWS' 2018 acquisitions of Benchmark Carbide (Springfield, MA) and Alliance CNC (Grand Rapids, MI), and 2017 acquisition of Carbide Grinding Company (Chesterfield, IN).
The team at NATC will continue to operate from the South Beloit facility as a manufacturing arm of GWS Tool Group, and that GWS expresses intent toward continued investment in the facility, machinery and equipment and human resources. Customers of NATC are said to expect continuity of the NATC offering and customer service disposition under cover of the GWS ownership.
“North American Tool is very excited to be joining GWS Tool Group, a company that embodies the attributes that have long made us successful,” said Curt Lansbery, NATC President & CEO. “A customer-centric approach to business rooted in a commitment to quality and quick delivery marry perfectly with our model here at North American Tool. We have no doubt that this move to join GWS will be positive for our associates and will ensure the continued growth of the legacy that we have worked to develop.”
On Jan. 6, NATC announced the appointment of Steve Mayse as its director of manufacturing.