BREAKING NEWS

Z Capital announces acquisition of Techniks Tool Group

Z Capital Partners, L.L.C. ("Z Capital"), the private equity management arm of Z Capital Group, L.L.C., a leading alternative investment manager focused on middle-market private equity and credit strategies, today announced the acquisition by its affiliates of Techniks Tool Group ("TTG" or the "Company"), a leading provider of tool holding and workholding products used in CNC machine applications for industrial end markets.

Formed in 2017 through the combination of industry-leading brands Techniks and Parlec, which have more than 90 years of combined experience, Techniks Tool Group is among the providers of choice for mission-critical and productivity-enhancing aftermarket CNC tooling, cutting tool and workholding solutions. TTG leverages world-class domestic manufacturing capabilities, a global high-value supply chain, R&D technologies and decades of innovation to service an extensive network of more than 1,500 metalworking and industrial distributors, machine OEMs and cutting tool manufacturers that serve a diverse and growing base of nearly 70,000 active ship-to locations. Building on its management team's more than 100 years of combined industrial experience, TTG began implementing a strategic plan in 2018 to accelerate growth, including through add-on acquisitions.

"TTG is an innovative technology leader with an established track record, and its investments in people, systems and processes are driving significant momentum and positioning the business for long-term success," said James Zenni, Chief Executive Officer of Z Capital Group. "I look forward to working with Dean and TTG's seasoned leadership team to refine and execute the Company's strategic plan to capitalize on a range of compelling opportunities for continued growth."

"We are excited to partner with Z Capital to leverage its industrial expertise and operational experience building leading brands as we enter our next phase of growth," said Dean Glover, CEO of Techniks Tool Group. "We look forward to continuing to build upon our industry-leading channel presence and diversified suite of products to achieve our growth plans, while staying true to the Company's culture of best-in-class customer service and support."

"TTG's differentiated approach and flexible manufacturing model links world-class domestic and overseas production to an extensive network of distributors and end users to generate strong organic revenue growth in a fragmented industry," said Rahul Sawhney, Senior Managing Director of Z Capital Partners. "With a strong management team that has significant acquisition experience, the Company's excellent brand recognition and its acquisition-ready infrastructure, we believe that TTG is well positioned to expand into new end-markets and geographies and execute on a robust global pipeline to consolidate the industry."

About Techniks Tool Group

Techniks Tool Group is the North American industry leader in high quality branded tooling and workholding solutions for demanding and high precision CNC applications. TTG has an unparalleled network spanning the manufacturing and tooling industries with a focus on strategic supplier relationships, leading channel access, extensive engineering capabilities and unmatched customer support.

About Z Capital Group

Z Capital Group, L.L.C. and its subsidiaries ("Z Capital") are a leading alternative asset management firm with approximately $2.3 billion of regulatory assets under management. For over two decades, the principals of Z Capital have worked to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, automotive parts, capital equipment and general manufacturing.

Z Capital creates value for its investors by collaborating with talented management teams to generate investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies.

The Z Capital Private Equity Funds' portfolio companies are within numerous industries, have aggregate annual revenues of approximately $1.3 billion, sell products in 57 countries, and have over 11,000 employees and an excess of 200,000 associates, directly and through joint ventures worldwide.

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