Audax Acquires Techniks Industries

Boston-based alternative asset management firm Audax Group has announced that it has acquired Techniks Industries, a provider of industrial cutting tools and toolholders, from Tenex Capital Management, a private equity firm based in New York.

Techniks Industries, Indianapolis, was formed by the merger of NAP Gladu and Techniks in 2012. NAP Gladu manufactures and services metal and cutting tools used in building materials and industrial end markets, and Techniks supplies toolholding and workholding products used in CNC machine applications for general industrial end markets.

www.techniksindustries.com