On September 21, 2015, Audax Group, along with management of Techniks Industries, acquired Techniks Industries from Tenex Capital Management.
Techniks is a leading provider of industrial cutting tools and tool holders in North America.
Audax Group is an alternative asset management firm specializing in investments in middle market companies.
Audax was represented in the US by Jeffrey Seifman, Kevin Mausert, Lauren Dragich, Katie Knue and Louis Hernandez (M&A) of Kirkland & Ellis LLP; and in Canada by John Leopold, Warren Silversmith, and Kevin Custodio (M&A) of Stikeman Elliott LLP.
Techniks and Tenex were represented by James Rosener, Valérie Demont, and Nancy Cruz (M&A), Paul Hespel (financing), Frank Tripodi (employment), David Rutherford (financing), Timothy Leska (tax), Gregory Narsh (regulatory), Isla Long (litigation), Paul Kennedy and Michael Patané (intellectual property) of Pepper Hamilton LLP.