Investment Summary

Gauge Capital and Audax Private Debt Invest In Engine & Transmission Exchange

On May 31, 2023, private equity firm Gauge Capital and mezzanine finance firm Audax Private Debt invested in automotive company Engine & Transmission Exchange

Investment Highlights
  • This is Gauge Capital’s 1st and Audax Private Debt’s 2nd transaction in the Automotive sector.
  • This is Gauge Capital’s 27th and Audax Private Debt’s 63rd transaction in the United States.
  • This is Gauge Capital’s 2nd and Audax Private Debt’s 3rd transaction in Wisconsin.

Investment Summary
Date 2023-05-31
Target Engine & Transmission Exchange
Sector Automotive
Investor(s) Gauge Capital
Audax Private Debt
Deal Type Growth Capital

Target

Engine & Transmission Exchange

Waukesha, Wisconsin, United States
website
Engine & Transmission Exchange is an independent aftermarket transmission remanufacturer focusing on non-discretionary automotive repair and replacements. Engine & Transmission Exchange was founded in 1985 and is based in Waukesha, Wisconsin.

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Investor(S) 2

Investor

Gauge Capital

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2013
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Gauge Capital is a lower middle-market private equity firm focused on acquiring companies throughout the US and Canada. Gauge seeks businesses operating in the business services, healthcare services, consumer products, and food sectors. The Firm targets companies with $5 to $40 million of EBITDA. Prospective transaction situations include management buyouts, recapitalizations, divestitures, take privates, consolidations, and growth capital financings. Gauge Capital was formed in 2013 and is headquartered in Southlake, Texas.

DEAL STATS #
Overall 28 of 33
Sector (Automotive) 1 of 1
Type (Growth Capital) 8 of 10
State (Wisconsin) 2 of 2
Country (United States) 27 of 31
Year (2023) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-11 Circa

Milwaukee, Wisconsin, United States

Circa is a provider of regulatory compliance and recruitment solutions. The company provides federal contractors with a fully outsourced solution to comply with several regulations of the Office of Federal Contract Compliance Programs (OFCCP) and also maintains a network of over 600 locally-focused online employment websites. Circa was formed in 1994 and is headquartered in Milwaukee and has additional offices in Minneapolis and Washington, D.C.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-29 FlutterHabit

Lenexa, Kansas, United States

FlutterHabit is a direct-to-consumer eCommerce provider of premium beauty products. The Company’s highly differentiated eyelash extensions are available in a variety of styles and are primarily sold online as well as in select retail stores. FlutterHabit was founded in 2019 and is based in Lenexa, Kansas.

Buy -
Investor

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies valued between $10 and $60 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations.

DEAL STATS #
Overall 65 of 66
Sector (Automotive) 2 of 2
Type (Growth Capital) 9 of 9
State (Wisconsin) 3 of 3
Country (United States) 63 of 64
Year (2023) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-04 minds + assembly

New York, New York, United States

minds + assembly is a premier design-focused brand launch agency, providing digitally advanced solutions and an unparalleled client experience for leading global healthcare companies. minds + assembly was founded in 2015 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-18 GME

Columbia, Missouri, United States

GME is an omnichannel distributor of fall protection, safety, and productivity equipment. The company supplies a comprehensive selection of fall protection, rigging materials, workwear, and PPE to technicians and contractors working in the telecom, utility, aerial construction, renewable energy, and other industrial markets. It provides expedited delivery of products that are critical to worker safety while catering to unique customer needs with value-added services like curated kitting and certified training courses. GME Supply was founded in 2005 and is based in Columbia, Missouri.

Buy -
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