New York, NY – Tenex Capital Management (“Tenex”), the New York based private equity firm focused on middle market special situations investments, today announced the completion of its acquisition of NAP GLADU, the largest, most comprehensive source of quality cutting tools and services for the wood, metal and advanced materials industries in North America.

With more than seventy years of experience in helping its tenured blue-chip customer base lower their Cost Per Cut with extensive selection, reliable service, and top quality, NAP GLADU’s design and engineering staff leads the way in custom engineered and innovative cutting tool designs from diamond saw blades to insert tooling. NAP GLADU has twelve manufacturing and service sites located in the U.S. and in Canada, enabling the Company to offer its customers shorter lead times for new tools and faster service response times than its competitors.

“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,” said Bradley Stack, NAP GLADU’s President.

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.”

About Tenex Capital Management

Tenex Capital Management, LLC ("Tenex") 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. Tenex’s deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex has established a successful track record investing in diverse industries, including transportation, industrials, manufacturing, and health and business services. For more information, please visit http://www.tenexcm.com

About NAP GLADU

Headquartered in Jasper, Indiana and Marieville, Québec, NAP GLADU is a designer, manufacturer and servicer of high-quality cutting tools used primarily in the woodworking, metalworking and advanced materials industries in North America. The Company operates twelve service centers across the U.S. and Canada, with five locations capable of both manufacturing and service. NAP GLADU employs 386 individuals. For more information, please visit http://www.napgladu.com