FOR IMMEDIATE RELEASE (Trade publications)
NAP Tools and Gladu Tools
Join Forces to Create
Wood Products Industry’s
Leading Source for Cutting Tools
JASPER,
INDIANA, June XX, 2006 – Cameron Holdings Corporation, through it’s NAP Tools LLC platform, today announced that it has acquired Gladu
Tools of Canada, creating the largest and most complete source of carbide and
diamond cutting tools and services for the wood products industry in
“A coast-to-coast network of 15 production and service centers will be the largest in the industry, and the expanded product line will address all of the cutting needs of our combined customer base, particularly in the wood products industry,” said NAP Tools President Kevin Biro. Jean Gladu, Jr., who will continue to serve as president of the company his father founded in 1969, commented, “This is a natural extension of my father’s goal of serving the customer in the best way possible, either through technology or service, and I believe our combined efforts will deliver on that promise.” Products and services will continue to carry the NAP Tools and Gladu Tools brands.
The combined NAP and Gladu product line offers hundreds of cutting options for wood as well as plastic and metal. The product slate includes endmills, carbide and diamond rotary saw blades for wood and metal applications, router bits, sidewinders, and mounting systems for all cutting applications. “The ability to offer Gladu’s highly regarded diamond cutting tools is a great development for our customers,” Biro said. “Polycrystalline diamond tools are perfect for abrasive materials such as engineered woods and laminates, and now our customers have access to the best PCD technology through our service and support network.”
Both NAP and Gladu are owned by Cameron Holdings Corporation, a private equity firm with multiple industrial and manufacturing portfolio companies. “This transaction is a perfect example of our Buy and Build strategy of serving targeted market segments,” said Cameron founder and Chairman Vincent Gorguze. “The combination of NAP and Gladu will create synergies in technology, operations, and marketing that will yield long-term benefits to our customers, employees and investors.”
“We view the cutting and machine tool industry as a solid investment platform for Cameron,” said President and CEO Lynn Gorguze, Vincent’s daughter. “A highly fragmented marketplace in a highly technical industry provides attractive opportunities to leverage our firm’s strong manufacturing experience.”
Cameron Holdings acquires and develops mid-sized businesses
and has completed more than 30 acquisitions.
Prior to entering the private equity segment, Mr. Gorguze spent 16 years
as an executive with Emerson (NYSE: EMR), serving as president and chief
operating officer until 1978. Ms.
Gorguze has been President and CEO of Cameron Holdings since 1993, when she was
Vice President of Corporate Development and Strategic Planning for Aldila,
Inc., of
About
NAP Tools
The combination of NAP
Tools and Gladu Tools creates the largest manufacturer and servicing provider
of cutting tools to the woodworking and metal sawing industry in
About
Cameron Holdings
Cameron Holdings Corporation is a private
equity company that specializes in the acquisition and operation of middle
market manufacturing and service companies. Beginning with its first
acquisition in 1978, Cameron has established a long and successful track record
of acquiring, operating, and growing a variety of companies in North America,
Europe, and
Media
Contacts:
NAP Tools
Kevin Biro, President
(812) 482-2000
www.naptools.com
Gladu Tools
Jean Gladu, Jr.,
President
(450) 460-4484
www.gladu.com
Cameron Holdings
Gary Sahrmann
Senior Vice President
gsahrmann@cameron-holdings.com
www.cameron-holdings.com