M&A Deal Summary

American Industrial Partners Acquires RelaDyne

On December 23, 2021, private equity firm American Industrial Partners acquired distribution company RelaDyne, Inc. from Audax Private Equity

Acquisition Highlights
  • This is American Industrial Partners’ 1st transaction in the Distribution sector.
  • This is American Industrial Partners’ 40th transaction in the United States.
  • This is American Industrial Partners’ 4th transaction in Ohio.

M&A Deal Summary

Date 2021-12-23
Target RelaDyne, Inc.
Sector Distribution
Buyer(s) American Industrial Partners
Sellers(s) Audax Private Equity
Deal Type Secondary Buyout
Advisor(s) Robert W. Baird & Co., Inc.
Stephens Investment Banking (Financial)

Target

RelaDyne, Inc.

Cincinnati, Ohio, United States
website
RelaDyne is a distributor of lubricants, fuels & equipment reliability services to the commercial, industrial, and automotive markets. RelaDyne’s distribution platform spans more than 90 locations serving customers across the Central, Mid-Atlantic, and Southern U.S. RelaDyne was formed in 1982 and is based in Cincinnati, Ohio.

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Buyer(S) 1

Buyer

American Industrial Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 8.0B USD
SizeMega
Type Sector Focused
DESCRIPTION

American Industrial Partners (AIP) is a private equity firm focused on investments in North American manufacturing or industrial service companies. For platform acquisitions, AIP seeks businesses with at least $300 million of revenue and the Firm will consider transactions valued up to $1.5 billion. Operating characteristics of prospective businesses include global marketing and sourcing opportunities, historical record of (or potential for) strong free cash flow, opportunity to drive value through operating enhancements, and potential for sustainable competitive advantage. AIP will consider a variety of transaction types including leveraged buyouts, structured equity investments, bridge financings, senior debt, carve-outs, take privates, turnarounds, and rescue financings. American Industrial Partners was formed in 1989 and is based in New York City.


DEAL STATS #
Overall 46 of 47
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 7 of 7
State (Ohio) 4 of 4
Country (United States) 40 of 41
Year (2021) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-10 AHF LLC

Mountville, Pennsylvania, United States

AHF Products manufactures solid and engineered hardwood flooring products that are sold through full-line flooring distributors, big-box home centers, national flooring retailers, and hardwood specialty distributors under the well-known brand names of Armstrong, Bruce, Capella, Homerwood, Robbins, and T. Morton. AHF Products was formed in 2019 and is based in Mountville, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-16 Strike, Inc.

The Woodlands, Texas, United States

Strike is a privately-held pipeline, facilities, and energy infrastructure solutions, provider. Strike delivers a full range of integrated engineering, construction, maintenance, integrity, and specialty services that span the entire oil and gas lifecycle. Strike is based in The Woodlands, Texas.

Buy -

Seller(S) 1

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 6.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm that targets to invest in small-cap and lower-middle market companies. The Firm seeks to invest $10 - $100 million in companies with revenues of at least $50 million and EBITDA of $10 million. Audax targets companies valued at between $100 and $500 million. Areas of interest include building products, business services, distribution/direct marketing, energy, niche manufacturing/specialty industrials, technology/media, consumer products, environmental services, education, food/beverages, waste/recycling, water, and wastewater services. Types of transactions include buyouts, divestitures, sponsor exit, family/entrepreneur, distressed and public company. Audax Private Equity is the private equity arm of Audax Group, Inc. Audax Private Equity was formed in 1999 and has offices in San Francisco and Boston.


DEAL STATS #
Overall 85 of 89
Sector (Distribution) 9 of 9
Type (Secondary Buyout) 48 of 50
State (Ohio) 5 of 5
Country (United States) 80 of 83
Year (2021) 10 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-13 MNX Global Logistics Corp.

Long Beach, California, United States

MNX Global Logistics is a provider of express, supply chain, and freight services to customers primarily in the life sciences, entertainment, and aviation industries. MNX Global Logistics was founded in 1983 and is based in Long Beach, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-11 Centerline Communication LLC

West Bridgewater, Massachusetts, United States

Centerline Communication provides turnkey wireless telecommunications infrastructure services to carriers, equipment suppliers, and tower operators. Services include project management and real estate services, outsourced maintenance services for HVAC and generator units at wireless sites, and general construction services including installation and equipment modification. Centerline provides services across the U.S., with a particularly strong presence in the Northeast and Mid-Atlantic markets. Centerline Communication was founded in 2006 and is based in West Bridgewater, Massachusetts.

Buy -