Tenex Capital Management has formed Quintec through the merger of NAP Tools, Techniks and BC Saw & Tool
Lincoln International, a leading global investment bank focused on the mid-market, announced today the successful completion of the financing of Quintec, a portfolio company of Tenex Capital Management and the leading independent provider of cutting tools, cutting tool holders and related services in North America. Quintec was created through the merger of Techniks, Inc. and BC Saw & Tool, Inc. with NAP Tools LLC (d/b/a NAP GLADU), a portfolio company previously acquired by Tenex. Lincoln International acted as exclusive financial advisor to Tenex and completed the placement of an undisclosed amount of debt financing, which consisted of an asset-based revolving credit facility and senior secured term debt. Proceeds from the transaction were used to partially finance the merger of NAP GLADU with Techniks and BC Saw and to provide for Quintec’s ongoing working capital and general corporate needs. The credit facilities were provided by Wells Fargo Bank and LBC Credit Partners.
As Tenex’s exclusive financial advisor, Lincoln International worked closely with the firm on all aspects of the transaction, helping to structure, arrange and negotiate the financing. Scott Galletti, a Managing Director at Tenex, stated, “Lincoln helped us streamline a highly complex financing that involved the merger of three separate companies and included cross-border considerations. The Lincoln team quickly prepared compelling and comprehensive offering materials and helped quarterback the financing process through to documentation and closing. In addition, Lincoln’s broad process ensured we obtained a highly attractive financing package that provides flexibility to continue expanding the Quintec platform.” Bob Horak, Managing Director and Co-Head of Lincoln’s Debt Advisory Group commented, “We are very proud of this transaction as it continues our strong relationship with Tenex and marks our second acquisition-related financing placement for Tenex over the last six months. In addition, this deal provides another example of how Lincoln’s debt advisory professionals enable sponsors, like Tenex, to focus on other critical deal execution tasks, which is especially important in such a highly competitive M&A environment.”
About Quintec
Quintec is a leading tooling company serving premier customers engaged in cutting and machining metal, wood, plastics and composites throughout North America’s growing and diverse industrial base. Quintec was formed upon the merger of NAP GLADU, Techniks and BC Saw. For more information, please visit http://www.quintecusa.com.
About NAP Tools LLC (d/b/a NAP GLADU)
NAP GLADU is the most complete source of quality and custom cutting tools and services for the wood, metal and advanced materials industries in North America, providing a diversified line of carbide and diamond cutting tools that includes saw blades, router bits, insert tooling and much more. NAP GLADU has been helping customers lower their cost per cut with extensive selection, reliable service and top quality for over 70 years. For more information, please visit http://www.napgladu.com.
About Techniks, Inc.
Headquartered in Indianapolis, Indiana, Techniks is an industry leader in the design and distribution of high-quality industrial tool holders, cutting tools and accessories. Techniks is the fastest growing supplier in the tool holding sector and its products are sold through local distributors throughout North America under the brands of Techniks, Nexus and Earthchain. For more information, please visit http://www.techniksusa.com.
About BC Saw & Tool, Inc.
BC Saw has been specializing in the sale and service of carbide saws, routers, cutters, diamond tooling, bandsaw blades, metal saws and custom tooling since 1966. Experienced sales professionals and on-staff engineers work with BC Saw’s customers to determine the most cost-effective tool design as well as recommend ways in which productivity levels can be increased for a wide variety of cutting applications and materials. For more information, please visit http://www.bcsaw.com.
About Tenex Capital Management
Tenex Capital Management, LLC is a private equity firm with $452M of committed capital that makes control investments in middle market companies. Tenex utilizes an in-house team of hybrid professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation. Tenex has established a successful track record investing in diverse industries, including transportation, industrials, manufacturing and health and business services. For more information, please visit http://www.tenexcm.com.
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