Philadelphia, PA, November 3, 2015 - LBC Credit Partners ("LBC"), a leading provider of financing solutions to middle market companies, provided a secured mezzanine loan to support the acquisition of Techniks Industries ("Techniks") by Audax Private Equity ("Audax P.E.") in partnership with the company's management team. Techniks was previously owned by Tenex Capital Management, a private equity firm based in New York.
LBC Credit Partners served as Agent for the secured mezzanine loan facility.
Headquartered in Indianapolis, IN, Techniks is a leading provider of industrial cutting tools and tool holders in North America. Techniks was formed by the merger of NAP Gladu and Techniks in 2012. NAP Gladu manufactures and services wood and metal cutting tools used in building materials and industrial end markets. Techniks supplies tool holding and work holding products used in CNC machine applications for general industrial end markets.
Audax Private Equity is focused on building leading middle market companies. They have invested over $3 billion in 88 platform and 414 add-on acquisitions.
About LBC Credit Partners
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions. With over $1.75* billion of capital commitments, LBC has made investments in companies located throughout North America across a wide range of industries and is committed to a long-term approach to debt investing. Headquartered in Philadelphia, LBC has additional offices in Chicago and Greenwich. To learn more, visit www.lbccredit.com.
*Information as of June 30, 2015