This simple editor extension allows you to select an
object or a group of objects and instantly make them
the children of a new parent object using hotkeys or
a drop down menu selection.

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Installation:

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Import the package to your assets folder.

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To use:

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Select an object or group of objects in the hierarchy
and either press the hot key combination (Ctrl-M by default)
or select "Make Parent" from the Tools/Quick Tools dropdown
in the menu bar. A new parent named "Parent" will be created
and the selected objects will be made children of the new
parent object.