Techniks Industries announces the acquisition of Riverside Tool Corporation located in Elkhart, IN.
Indianapolis, IN, June 3, 2016 – Techniks Industries, one of North America’s leading providers of tooling solutions for the metalworking and woodworking industries, today announced the acquisition of Riverside Tool Corporation located in Elkhart, IN. The acquisition of Riverside expands Techniks Industries’ service coverage and the addition of PCD/carbide cutting tools and sanding tools greatly enhances its solutions offerings to dealers and distributors located throughout North America.
Ronald Migedt Sr., founder of Riverside Tool Corp., said, "After almost 26 years in business, Riverside’s team and I are excited to partner with Techniks Industries, which shares our vision to be the premier provider of high-quality cutting and sanding tools. Our support of a dealer network aligns well with Techniks Industries’ history of commitment to distributors. We look forward to working alongside the Techniks Industries’ team whose industry reach and dedication to strong customer and supplier relationships provide an ideal platform to support Riverside’s continued growth.”
Greg Webb, President and CEO of Techniks Industries, stated, “The acquisition of Riverside Tool to Techniks Industries portfolio helps fulfill our strategic goals of extending our sales and service networks, adding new products to our solutions offerings, and improving operational efficiencies.” He added “We are very excited that Ron will remain with the company and join our leadership team to share his deep industry knowledge, commercial prowess, and passion for innovation across our platform.”
About Techniks Industries
Techniks Industries is a platform of industry-leading companies including Techniks, Inc., NAPGLADU, and RKO Saw. Techniks, Inc. is a provider of high-quality toolholding, cutting tools, and magnetic workholding solutions sold through industrial distributors. NAPGLADU is North America’s largest manufacturer and service provider of diamond and carbide cutting tools with 12 locations in the United States and Canada. RKO Saw is a leading manufacturer of PCD and carbide tipped saw blades sold through industrial distributors and OEM relationships. Visit www.techniksindustries.com to learn more.