Z Capital Begins Tooling Consolidation

Z Capital Partners has acquired Techniks Tool Group, a provider of tool holding and workholding products used in CNC machine applications for industrial end markets.

Techniks Tool Group (TTG) was formed in April 2017 when Indianapolis, IN-based Techniks Industries acquired the tooling division of Fairport, NY-based Parlec. Today, TTG has more than 8,000 SKUs and supplies tool holding equipment, cutting tools, boring tools, and magnetic workholding equipment to more than 1,500 metalworking and industrial distributors, machine OEMs and cutting tool manufacturers.

TTG is led by CEO Dean Glover (www.techniksusa.com) (www.technikstoolgroup.com) (www.parlec.com).

In 2018, TTG began a strategic plan to accelerate growth, including through add-on acquisitions. “TTG’s differentiated approach and flexible manufacturing model links world-class domestic and overseas production to an extensive network of distributors and end-users to generate strong organic revenue growth in a fragmented industry,” said Rahul Sawhney, a senior managing director of Z Capital. “With a strong management team that has significant acquisition experience, the company’s excellent brand recognition and its acquisition-ready infrastructure, we believe that TTG is well positioned to expand into new end-markets and geographies and execute on a robust global pipeline to consolidate the industry.”

“TTG is an innovative technology leader with an established track record, and its investments in people, systems and processes are driving significant momentum and positioning the business for long-term success,” said James Zenni, chief executive officer of Z Capital. “I look forward to working with Dean and TTG’s seasoned leadership team to refine and execute the company’s strategic plan to capitalize on a range of compelling opportunities for continued growth.”

Z Capital makes control investments in middle-market distressed companies, operational turnarounds and special situations. The firm targets companies with an enterprise value of less than $1 billion or EBITDA of less than $100 million. Sectors of interest include basic materials, branded consumer, automotive parts, capital equipment and general manufacturing. Z Capital is based in the Chicago suburb of Lake Forest and has additional offices in New York (www.zcapgroup.net).

© 2019 Private Equity Professional | February 6, 2019

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