ELKHART, Ind. - Riverside Tool Corp. has acquired General Saw Corp. Terms of the acquisition, announced July 9, were not disclosed.
Founded in 1937 and based in Cape Coral, Florida, General Saw manufactures carbide-tipped saw blades for the wood, plastics and acrylics markets. A statement from Riverside Tool said the General Saw acquisition will strengthen the capabilities, products, and services of both companies.
Effective immediately, General Saw will be a brand under Riverside Tool, with Ray Kordecki overseeing the product sales and engineering.
“The Riverside Tool team looks forward to working with Ray Kordecki to offer his tremendous knowledge to our dealers and the customers we serve in this product category,” said Ronald Migedt, general manager of Riverside Tool.
Based in Elkhart, Indiana, Riverside Tool specializes in custom profile tooling using carbide, Riverloy and PCD (diamond) materials. Riverside Tool became a Techniks Industries company in June 2016.
“The additional of General Saw to Techniks Industries’ growing portfolio of brands enhances the range of solutions and our value to both our distribution partners and end-user customers,” said Vern Cameron, CEO & president of Techniks Industries. He added, “We are committed to building our platform with industry- leading brands and leveraging the incredible depth and collective industry knowledge to drive operational efficiencies and performance for our customers."
The purchase of General Saw marks the second tooling firm acquired by Riverside Tool in less than a year. In January 2017 the company acquired Carbide Specialties, a manufacturer and service provider of custom knives, cutters, saw blades and router bits, located in Grand Rapids, Michigan.
Headquartered in Indianapolis, Indiana, Techniks Industries also owns Techniks, Inc., Parlec, NAP Gladu, and RKO Saw. Techniks Inc. provides toolholding, cutting tools, and magnetic workholding solutions sold through industrial distributors. NAP Gladu manufactures diamond and carbide cutting tools, and has 13 locations in the United States and Canada. RKO Saw manufactures PCD and carbide tipped saw blades sold through industrial distributors and OEM relationships. Techniks Industries purchased the Parlec tooling division in April 2017.
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