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LBC Credit Partners Provides $34MM in Quintec Formation by Tenex Capital

April 23, 2013, 08:05 AM
Filed Under: Manufacturing

LBC Credit Partners announced the completion of a $34 million senior secured term loan to Quintec, a portfolio company of Tenex Capital Management. Proceeds from the transaction were used to partially finance the merger of NAP GLADU with Techniks and BC Saw and to provide for Quintec’s ongoing working capital and general corporate needs.

Quintec is a leading independent provider of cutting tools, cutting tool holders and related services in North America. The company was created through the merger of Techniks, Inc. and BC Saw & Tool, Inc. with NAP Tools LLC (d/b/a NAP GLADU), a portfolio company previously acquired by Tenex. The merger created significant synergies in technologies, products and distribution to ensure continued and significant growth at both companies.

Techniks is an industry leader in the design and distribution of high-quality industrial tool holders, cutting tools and accessories. Techniks is the fastest growing supplier in the tool holding sector and its products are sold through local distributors throughout North America under the brands of Techniks, Nexus and Earthchain. BC Saw has been specializing in the sale and service of carbide saws, routers, cutters, diamond tooling, bandsaw blades, metal saws and custom tooling since 1966.

LBC worked closely with the firm on all aspects of the international transaction, helping to structure the complex deal and create a highly attractive financing package that provides flexibility to continue expanding the Quintec platform.

Tenex Capital Management is a private equity firm with $452M of committed capital that makes control investments in middle market companies. Tenex utilizes an in-house team of hybrid professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation.

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.

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