Apex CEO Steve Breitzka said Niagara Tools would become part of Apex’s power and professional tools business unit, which manufactures precision tooling, cutting and grinding equipment.

“Niagara Tools is a strong strategic complement to our power tools business,” he said.

“This acquisition allows Niagara to leverage our global motor vehicle industry, aerospace and industrial relationships to expand its channels and it offers Apex significant cross-selling opportunities within Niagara’s customer base.”

Niagara owner Paul Brodeur will take on a consulting role with Apex while Bill McMaster will continue to serve as Niagara general manager.

Apex power and professional tools business unit president Martin Kuerzinger said: “Both our organisations have a strong culture of technological innovation, focus on the customer and creating solutions within our markets.

“Niagara Tools is a dynamic addition to our power tools global business portfolio and we are excited about the growth potential that lies ahead.”