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Tenex Capital Management, New York, NY, has acquired Techniks, Indianapolis, IN, a distributor of industrial tool holders, cutting tools and accessories. The acquisition is concurrent with Techniks’ merger into another Tenex portfolio company, NAP GLADU.
Tooling manufacturer NAP GLADU, Jasper, IN, designs integrated custom cutting tools for the wood, metal and advanced materials markets in North America. The merged companies will form a new holding company, Quintec, but will operate as stand-alone companies.
Brad Stack, president of NAP GLADU said, “Channel and product synergies that will be realized by the combination of NAP GLADU and Techniks will provide each company immediate access to broader niches of North America’s industrial base and end-user customers.”