Audax Group acquired Techniks Industries, a leading provider of industrial cutting tools and tool holders in North America, from Tenex Capital Management on September 21, 2015. Duff & Phelps served as exclusive financial advisor to Techniks Industries and Tenex Capital Management in connection with the sale transaction.
About Techniks Industries
Techniks Industries was formed by the merger of NAP Gladu and Techniks in 2012. NAP Gladu manufactures and services wood and metal cutting tools used in building materials and industrial end markets. Techniks supplies tool holding and work holding products used in CNC machine applications for general industrial end markets. Pepper Hamilton LLP acted as legal counsel to Techniks Industries and Tenex Capital Management.
About Audax Group
Audax Group is an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and Menlo Park, Audax has over $6 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses. Kirkland & Ellis LLP acted as legal counsel to Audax Group.
About Tenex Capital Management
Tenex Capital Management is a private equity firm that invests in middle-market companies across diverse industries, including industrials, manufacturing, and health and business services. Tenex utilizes an in-house team of hybrid investment professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation.