Navidar Group, an investment banking firm providing mergers and acquisitions and corporate finance advisory services to leading companies, announces another successful M&A transaction for the firm with Techniks USA's acquisition by Tenex Capital Management and merger with NAP Gladu, a Tenex portfolio company. Serving as the exclusive financial advisor to Techniks, a recognized innovator and leader in the design and distribution of industrial tool holders, cutting tools and accessories for the metal and wood industries, Navidar Group organized and coordinated a global sale process spanning the United States, Europe and Asia and advised the company through negotiations, documentation and closing of the transaction.

"Navidar's global reach and extensive relationships in the industrial and manufacturing industry helped to ensure that we found the best long-term partner. Navidar consistently provided sound, unbiased advice and we felt that they always put Technik's interests ahead of their own," said John Stagge, Co-President of Techniks.

Nick Tuttle, Co-President of Techniks added, "Navidar was very insightful in helping us to better communicate our competitive differentiation and growth strategy which we believe was critical in creating real excitement around our story. Navidar's expertise clearly contributed to more creative ideas, better preparedness for diligence and an excellent result for the founders, customers and employees of Techniks."

Techniks has rapidly grown its business to become a leading independent supplier of tool holding products and accessories by developing and investing in a unique range of capabilities that have contributed to its success.

"The merger of Techniks and NAP Gladu creates a highly-innovative Indiana-based company with tremendous breadth of products and an outstanding, service-focused culture. Together, Techniks and NAP Gladu will be well-positioned to address customer needs across the entire manufacturing spectrum," said Christopher Day, Managing Principal of Navidar Group.

Techniks USA was advised by Navidar Group LLC and the law firm of ICE Miller LLP.