NAP GLADU Acquires Drake Corporation

INDIANAPOLIS, IN -- Cutting tool manufacturer NAP GLADU today announced the acquisition of Drake Corporation headquartered in Imperial Missouri. The acquisition of Drake’s sales operations, manufacturing and service facilities will expand and enhance NAP GLADU’s capabilities to customers located in Missouri, Iowa, Illinois, Indiana, Kentucky, Mississippi, and Arkansas.

Founded in 1940 and headquartered in Imperial Missouri (St. Louis), Drake has always been known as a pioneering provider of leading edge carbide and diamond cutting tool solutions. Drake also offers repair and sharpening services throughout the central states. In addition to the main facility located in Missouri, this acquisition includes a manufacturing and service center located in Huntingburg, Indiana. 

The former president of Drake Corporation, Jim Braunecker, will remain with the Company on a consultative basis during the transition period. “It is my desire to see that our employees and customer base are placed with a company who recognizes and values the long-term relationships we have developed over time. This partnership with NAP GLADU is the most beneficial relationship we can provide for the future preservation of both. We are excited to provide the enhanced services we can now offer by joining forces with NAP GLADU.” says Mr. Braunecker.

Greg Webb, President and CEO of Techniks Industries, the parent company of NAP GLADU adds; “The addition of Drake Company to the NAP GLADU brand extends our coverage area and will enhance our customer’s service and support experiences.” He continues “This partnership also offers significant synergistic opportunities to increase manufacturing and service capacities, improve efficiencies, and lower costs. We are excited to welcome Drake’s employees into the growing NAP GLADU family. We are equally excited that Jim Braunecker will remain with the organization through the transition period as we look to gain from his deep industry knowledge and experience.”

NAP GLADU, is the largest manufacturer of carbide and diamond cutting tools in North America, with 12 locations coast-to-coast, plus Canadian locations in Quebec and Toronto. NAP GLADU designs, manufactures and services broad families of integrated custom cutting tools for the wood, metal and advanced materials industries. Visit www.napgladu.com to learn more or call them at: (800) 457-7468

SOURCE: NAP GLADU

 

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