Apex Acquires Niagara Tools
The Canadian tooling, cutting and grinding manufacturer strategically complements the power tools business of Apex.
Posted: August 8, 2014
Apex Tool Group (Sparks, MD) announced the acquisition of specialty cutting tool manufacturer Niagara Tools Ltd (St. Catharines, ON). The transaction was effective July 31. Niagara Tools now becomes part of the Apex Power and Professional Tools business unit as a precision tooling, cutting and grinding manufacturer that serves the North American automotive and aerospace markets and employs 40 associates.
“Niagara Tools is a strong strategic complement to our Power Tools business,” said Steve Breitzka, the president and chief executive officer of Apex. “This acquisition allows Niagara to leverage our global MVI, aerospace and industrial relationships to expand its channels, and it offers us significant cross-selling opportunities within their customer base.” Niagara owner Paul Brodeur will continue in a consulting role with Apex. Bill McMaster will continue to serve as Niagara Tools general manager.
“Both of our organizations have a strong culture of technological innovation, focus on the customer and creating solutions within our markets,” added Martin Kuerzinger, the president of Apex’s Power and Professional Tools business unit. “Niagara Tools is a dynamic addition to our Power Tools global business portfolio, and we are excited about the growth potential that lies ahead.”
“We are extremely pleased to become part of Apex’s Power Tools business, and look forward to a strong relationship,” said Paul Brodeur, owner of Niagara Tools. “Their team and brands are a recognized leader in their industries, as is Niagara Tools, and together we have tremendous opportunities for growth.”
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