GWS Tool Group Announces Acquisition of CJT Koolcarb, Inc. and GenHam Diamond Tooling
Apr 6, 2021
GWS Acquires CJT Koolcarb and GenHam Diamond Tooling
GWS Tool Group is pleased to announce it has acquired CJT Koolcarb, Inc and its PCD operating subsidiary, GenHam Diamond Tools. This is the second acquisition in 2021 for GWS Tool Group.
Located in Carol Stream, IL, CJT is an industry leader in the manufacturing of carbide and carbide-tipped drills and reamers. The company has a long legacy of producing high performance holemaking products for a variety of industries, including aerospace and automotive.
The company offers thousands of drilling and hole finishing solutions, including carbide drills, carbide-tipped drills, carbide reamers and specialty aircraft holemaking tools. In addition to CJT, GWS also takes ownership of subsidiary company GenHam Diamond Tools located in Montrose, Colorado, which produces custom polycrystalline diamond-tipped round tools for non-ferrous and composite machining. With the addition of CJT and its subsidiary GenHam Diamond, GWS further solidifies its position as the premier multi-disciplinary manufacturer of high-performance cutting tools in the marketplace today.
"CJT Koolcarb commands the performance and quality recognition in the industry that will fit seamlessly within our company," said Rick McIntyre, CEO of GWS Tool Group. "Their expertise in holemaking will bolster both our capability and capacity in this vertical, giving our customers and partners in distribution another reason to consolidate with GWS," McIntyre continued.
"I am very excited for CJT and our subsidiary GenHam to be joining GWS Tool Group," said Andy Piasecki, CEO of CJT Koolcarb Inc. "We have built a strong reputation on the back of great products here at CJT, and the track record of GWS in stewarding great businesses like ours is why I am thrilled with this merger."
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 areas of custom round and insert 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 serve as the respective manufacturing divisions for the company.
For more information, please visit www.GWSToolGroup.com or contact Drew Strauchen, EVP of Marketing & Business Development for GWS Tool Group, at [email protected] or 877.497.8665.
Press Release Service by Newswire.com
Original Source: GWS Tool Group Announces Acquisition of CJT Koolcarb, Inc. and GenHam Diamond Tooling
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