Tavares, Fla. – GWS Tool Group has acquired STF Precision, marking GWS’ third add-on acquisition in 2020. Located near Asheville, N.C., STF is a 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 designs, manufactures and regrinds tooling for a variety of applications, including boring, grooving, turning and profiling difficult-to-machine materials such as high-silicon aluminum, composites, carbon fiber, and plastics.
“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.”
“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.”
Ford will continue with the GWS team as general manager for the North Carolina manufacturing operations, and David Novak, STF co-owner and vice president, will be joining the GWS leadership team as director of systems and integration. According to GWS, the company will continue to expand by way of acquisition and investment.