Techniks Industries was formed by the merger of NAP Gladu and Techniks in 2012. Today, NAP Gladu manufacturers and services wood and metal cutting tools used in building materials and industrial end markets, and Techniks supplies tool holding and work holding products used in CNC machine applications for general industrial end markets. The company is based in Indianapolis (www.techniksusa.com).
LBC Credit Partners – the agent and sole lead arranger for this transaction – is a provider of middle market financing to companies with EBITDAs generally greater than $10 million. Products include senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions. LBC invests from $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings. LBC is headquartered in Philadelphia with additional offices in Chicago and Greenwich (www.lbccredit.com).
The Audax Group makes control investments of $10 million to $100 million in middle market companies with transaction values of $25 million to $500 million. Sectors of interest include industrial manufacturing; energy; outsourced industrial services; consumer products; healthcare devices and services; non-asset based logistics; technology; aerospace & defense; business services; and direct marketing. Audax has over $6 billion in assets under management in its private equity, mezzanine, and senior debt businesses. The firm was founded in 1999 and has offices in Boston, New York, and Menlo Park (www.audaxgroup.com).
CIT Group (www.cit.com/corporatefinance) provided the senior debt financing for the acquisition of Techniks Industries by Audax.
© 2015 PEPD • Private Equity’s Leading News Magazine • 11-3-15