industrial tooling

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

GenNx360 Capital Partners has made an investment in Tooling Technology, a manufacturer of tooling and automation systems. This transaction represents the third investment for GenNx360 Capital Partners’ Fund II.

Tooling Technology is a manufacturer of tooling and automation systems utilizing thermoforming, twin-sheet and single-sheet vacuum forming, pressure forming, compression molding, rotational molding, blow molding, resin transfer molding, rubber and polyurethane molding, carpet and metal stamping, foundry tooling and pulp molding.  The company sells its products to companies in the industrial machinery and components, oil and gas, logistics and supply chain management, agricultural, specialty chemicals, and aerospace sectors.  Tooling Technology is fully integrated with design, pattern-making, prototyping, machining, casting and finishing capabilities. The company employs approximately 100 people and has production facilities in Fort Loramie and Fremont, OH and an engineering design facility in Grand Rapids, MI.  Tooling Technology was founded in 1982 and is headquartered north of Dayton in Fort Loramie, OH (www.toolingtechonline.com).

“We strongly believe in the megatrends that drive Tooling Tech’s business. Re-shoring of industrial manufacturing to the US and strong automotive trends will continue to drive industry growth,” says Matt Guenther, the GenNx360 Partner who led the transaction.  “With its multiple processing capabilities, excellent track record and customer responsiveness, Tooling Tech is well positioned to benefit from continuing market demand. We expect to build on Tooling Tech’s strengths by leveraging our operational expertise and executing on identified opportunities, both organically and through add-on acquisitions.”

GenNx360 Capital Partners is a private equity firm focused on investing in industrial business-to-business companies in the middle market. Sectors of interest include industrial machinery and components, oil and gas, logistics and supply chain management, agricultural, specialty chemicals, and aerospace sectors.  GenNx360 was founded in 2006 and is headquartered in New York with additional offices in Seattle and Boston (www.gennx360.com).

“As we enter our next phase of growth, we are extremely excited to partner with GenNx360. Its significant experience in growing companies, its industry relationships and deep operational expertise will help us immensely in our continued growth efforts,” said Tooling Technology’s Founder and CEO, Tony Seger.

2014 PEPD • Private Equity’s Leading News Magazine • 7-23-14