Peak Toolworks, which is backed by Audax Private Equity, has acquired Elkhart, Indiana-based Tooling Concepts, a provider and servicer of carbide, cermet, and high-speed tooling. No financial terms were disclosed.
PRESS RELEASE
The Companies
Tooling Concepts, Inc. (“Tooling Concepts”) is a leading provider and servicer of carbide, cermet, and high-speed tooling based in Elkhart, IN. Tooling Concepts services customers across a diverse set of end-markets in the Midwest.
The Deal
Peak Toolworks (“Peak”), a portfolio company of Audax Private Equity (“Audax”) has completed the acquisition of Tooling Concepts, representing the company’s ninth acquisition since Audax invested in September 2015.
The Thesis
Headquartered in Jasper, IN, Peak is a full solutions provider of specialty cutting tools for the secondary woodworking, composite, and metals industries across North America. The acquisition of Tooling Concepts helps expand Peak’s ability to rapidly deliver innovative tooling and service solutions to local customers in the northern Indiana and Michigan area, resulting in faster speed to market and better service.
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