Techniks Industries acquires Parlec’s tooling division
One of North America’s leading providers of tooling solutions in the woodworking and metalworking industries, Techniks Industries, disclosed the acquisition of Parlec, Inc.’s tooling division, located in Fairport, New York. Parlec will continue to hold their Presetter business under the “Omega” brand.
This acquisition broadens Techniks’ already exhaustive product offerings of aftermarket machine tool accessories and improves its manufacturing and distribution capacities to distributors and original equipment manufacturers (OEMs) across North America. Techniks will continue to sell Parlec-branded products and will also offer superior manufacturing quality and product developments out of Parlec’s locale in Fairport for its customers.
“After almost 70 years in business, Parlec has become a leader in the toolholding, tapping and boring market in North America,” President and CEO of Parlec, Mike Nuccitelli, said. “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.”
President and CEO of Techniks Industries, Vernon Cameron, added, “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.”
Source: Techniks Industries