Techniks Industries Acquires Parlec

Techniks Industries (Indianapolis, IN), one of North America’s leading providers of tooling systems for the metalworking industry, has announced the acquisition of the tooling assets of Parlec, Inc. (Rochester, NY). This acquisition expands Techniks Industries’ broad product offering of aftermarket machine tool accessories and greatly enhances their manufacturing and distribution capabilities to distributors and OEMs located throughout North America.

“After almost 70 years in business, we have transformed into one of the largest toolholding, tapping and boring businesses in North America,” said Mike Nuccitelli, the president and chief executive officer of Parlec. “I’m excited to partner with Techniks becuase I know they share our vision to become the premier provider of aftermarket tooling solutions across the globe. We look forward to working alongside their team, whose industry reach and dedication to strong customer and supplier relationships provide an ideal platform to support our continued growth.”

“With the addition of their complimentary arsenal of innovative products and unparalleled service, we will continue to provide superior machine tooling products, performance and value for all our customers,” added Vernon Cameron, the president and chief executive officer of Techniks Industries. “With a global network that spans throughout North America, Europe, and Asia, their reach opens the world to us and us to the world.”

Techniks Industries is a platform of industry-leading companies that includes:

• Techniks, Inc., a provider of high quality toolholding, cutting tools, and magnetic workholding systems sold through industrial distributors.
• NAP Gladu, North America’s largest manufacturer and service provider of diamond and carbide cutting tools, with 13 locations in the United States and Canada.
• RKO Saw, a leading manufacturer of PCD and carbide-tipped saw blades sold through industrial distributors and OEM relationships.

www.techniksindustries.com