Perinton-based Parlec Inc. said Monday it has sold its tooling division to Indianapolis-based Techniks Industries. Parlec will retain its presetter business under the Omega Tool Measuring Machines brand. Presetters are tool measurement devices.
“In January 2016, the executive team at Parlec Inc. made a decision to begin to look at our business as two separate companies, tooling and presetting,” said Michael Nuccitelli, president and CEO of Parlec. “We quickly realized that the market strategies for these two product groups differed and that our growth was being compromised because of this.
“We also realized that we needed to continue to grow our tooling business in order to remain competitive. Last summer, we began a process to find additional synergies for the tooling side of our business. We considered many different aspects including strategic partnerships, additional product developments and coming together with other companies.”
Techniks Industries is a platform of brands of industrial tooling solutions. The Parlec tooling division will continue to operate as an independent company, branded Parlec LLC under the Techniks Industries umbrella, officials said.
Jay Nuccitelli will remain as the vice president of operations, while Chris Nuccitelli will remain as the vice president of business development, officials said.
Michael Nuccitelli will remain as the president and CEO of Omega Tool Measuring Machines and will continue to provide the strategic direction for the company. Mark Higgins will remain as the executive vice president and be responsible for the daily operations.
Techniks Industries is a platform of industry-leading companies, including Techniks Inc., NAP Gladu and RKO Saw.
“With the addition of Parlec’s complimentary portfolio of innovative products, engineering capability, and unparalleled service, Techniks Industries will continue to provide superior machine tooling products, performance and value for all our customers,” said Vernon Cameron, president and CEO of Techniks Industries. “We are excited to welcome the Parlec team to Techniks and look forward to the next phase of growth.”
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