News | April 13, 2017

Techniks Industries Announces Acquisition Of Parlec's Tooling Division

Indianapolis, IN (BUSINESS WIRE) - Techniks Industries, one of North America’s leading providers of tooling solutions for the metalworking and woodworking industries, announced today the acquisition of the tooling division of Parlec, Inc., located in Fairport, NY. Parlec will retain its Presetter business under the “Omega” brand.

The acquisition expands Techniks Industries’ broad product offering of aftermarket machine tool accessories and enhances its manufacturing and distribution capabilities to distributors and OEMs located throughout North America. Techniks will continue selling Parlec-branded products and offering superior manufacturing quality and product development out of its Fairport location for Parlec customers.

Mike Nuccitelli, President and CEO of Parlec, said, "After almost 70 years in business, Parlec has become a leader in the toolholding, tapping and boring market in North America. I’m excited to see Parlec and Techniks become partners, as we share the vision to become the premier provider of aftermarket tooling solutions through high quality products, engineering and technical expertise, and customer service.”

Vernon Cameron, President and CEO of Techniks Industries, stated, “With the addition of Parlec’s complimentary portfolio of innovative products, engineering capability, and unparalleled service, Techniks Industries will continue to provide superior machine tooling products, performance and value for all our customers. We are excited to welcome the Parlec team to Techniks and look forward to the next phase of growth.”

About Techniks Industries
Techniks Industries is a platform of industry-leading companies including Techniks, Inc., NAP Gladu, Riverside Tool, and RKO Saw. Techniks, Inc. is a provider of high-quality toolholding, cutting tools, and magnetic workholding solutions sold through industrial distributors. NAP Gladu is one of North America’s largest manufacturers and service providers of diamond and carbide cutting tools with 13 locations in the United States and Canada. Riverside Tool and RKO Saw are leading manufacturers of PCD and carbide tipped saw blades and cutter heads sold through industrial distributors and OEM relationships. Visit www.techniksindustries.com to learn more.

About Parlec, Inc.
Parlec, Inc., (www.parlec.com) a worldwide leader in tooling and presetting solutions, offers more than 60 years of experience in CNC tooling innovation. Products include solutions for high performance toolholding, modular production boring, tapping, and tool measuring and inspection. Parlec’s portfolio comprises more than 8,000 individual products - 98% of them manufactured in the USA at its Fairport, New York world headquarters. Parlec has more than 30 patented processes and technologies and offers unmatched levels of technology, quality, and support on a global basis with sales, engineering, manufacturing, and service throughout North America, Europe and Asia.

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