Peterson Tool Company Acquired by GWS Tool Group
The acquisition is the first by GWS in 2022 after completing five acquisitions in 2021.
Peterson Tool Company announces it has been acquired by Florida-based GWS Tool Group.
Peterson Tool Company says it has been committed to providing the most precise and carefully engineered carbide tools in the world. Its name in quality and ingenuity is supported by in-house manufacturing areas that include engineering and design, EDM, machining, grinding, round tool grinding, quality control and shipping.
In a largely male-dominated industry, Peterson Tool has had women in top leadership and governance positions for nearly 40 years, including long-time board chair Nancy Peterson-Hearn and CEO Diane Peterson Edwards.
The company hosted a special luncheon on July 19, 2022, during which company executives recognized long-time employees, business partners and retirees. Peterson Edwards addressed attendees, saying, “This gathering speaks volumes about the longevity, history and legacy that Peterson has. I can’t say enough about all the work and dedication that these employees gave to make this company what it is today. All of you are a part of this legacy.”
This is the first acquisition by GWS in 2022 after an incredibly active 2021 wherein five add-on acquisitions were effected. This is also the first add-on acquisition by GWS since joining Walter and the Sandvik family of companies in December 2021. According to GWS, its continued expansion by way of acquisitions and constant investment in technology, equipment and people creates a compelling value proposition for customers operating in advanced machining environments, especially in the areas of custom round and insert tooling.
