Tenex Capital Management, a New York-based private equity firm, acquired cutting tool manufacturer Nap Gladu.
“We believe the operating experience and strategic planning expertise provided by Tenex will advance our ability to grow the business, both organically and through strategic acquisitions. Additionally, the flexible capital structure and ability to fund capital equipment and machinery will allow us to continue to provide our customers with industry-leading service and product innovation,” Nap Gladu president Bradley Stack said in a statement.
J.P. Bretl, managing director and principal at Tenex Capital Management, added, “We are very excited to support Nap Gladu and all of its employees as the company executes on the next leg of its growth strategy. The company has a long tradition of product development, manufacturing, and service excellence that we look forward to continuing.”