Techniks Industries, a portfolio company of Audax Private Equity, has acquired Minneapolis-based Eide Saw, a reseller of and service provider for carbide tipped saw blades and band saws primarily used for cutting wood and non-ferrous metals. No financial terms were disclosed.
Techniks Industries, a portfolio company of Audax Private Equity, acquires Eide Saw
Eide Saw is a reseller of and service provider for carbide tipped saw blades and band saws primarily used for cutting wood and non-ferrous metals, headquartered in Minneapolis, MN.
Techniks Industries (“Techniks”), a portfolio company of Audax Private Equity (“Audax”), acquired Eide Saw from a private owner. Eide Saw is Techniks’ eighth acquisition under Audax ownership.
Audax acquired Techniks in September 2015 as a leading provider of cutting tool solutions and services for the woodworking and general industrial markets. The company’s acquisition strategy is to broaden its product offering, increase its service footprint, and expand into new geographies.
Techniks Industries continues to seek acquisitions for its two business segments: cutting tool solutions for wood and metal cutting applications; machine tool accessories, including toolholders and workholding products, for the general industrial markets.
AUDAX INVESTMENT CRITERIA
Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Audax has invested $4.5 billion in 112 platform and 640 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value.