Tenex Capital Management Expands its Presence in the Industrial Tooling Markets by Acquiring Techniks and Merging it with NAP Gladu
Announces formation of a new Industrial Tooling Company, Quintec
New York, NY January 14, 2013 -- Tenex Capital Management (“Tenex”) announced the completion of its acquisition of Techniks, concurrent with Techniks’ merger into another Tenex portfolio company, NAP Gladu. The merged companies will form a new holding Company, Quintec. The combination of Techniks and NAP Gladu creates a leading tooling company serving premier customers engaged in cutting and machining metal, wood, plastics and composites throughout North America’s growing and diverse industrial base. Techniks is a recognized innovator and leader in the design and distribution of industrial tool holders, cutting tools and accessories. The company, which was founded 15 years ago and is headquartered in Indianapolis, IN, markets its products under the Techniks, Nexus and Earth Chain brands. NAP Gladu, one of the industry’s pre-eminent tooling suppliers, designs, manufactures and services broad families of integrated custom cutting tools for the wood, metal and advanced materials markets in North America. As with Techniks, its new sister company, NAP Gladu is recognized for its innovative tooling solutions and superior customer service.
Bill Van Sant, Executive Chairman of the board for Quintec, stated, “We are pleased to announce the merger of Techniks and NAP Gladu into a new tooling company, Quintec, that will greatly expand its combined ability to rapidly deliver innovative tooling solutions to a growing base of premier customers throughout North America’s industrial base. Synergies that will be shared by Techniks and NAP Gladu will result in a company that is differentiated by speed to market, innovation, technology and superior customer service. The new company’s primary objective is to provide tooling solutions that exceed customer expectations for quality, reliability and speed of service.”« Go Back