M&A Deal Summary

Audax Private Equity Acquires Active Day

On December 9, 2015, private equity firm Audax Private Equity acquired consumer services company Active Day from Clearview Capital

Acquisition Highlights
  • This is Audax Private Equity’s 1st transaction in the Consumer Services sector.
  • This is Audax Private Equity’s 84th transaction in the United States.
  • This is Audax Private Equity’s 3rd transaction in Pennsylvania.

M&A Deal Summary
Date 2015-12-09
Target Active Day
Sector Consumer Services
Buyer(s) Audax Private Equity
Sellers(s) Clearview Capital
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)
Troutman Pepper Hamilton Sanders LLP (Legal)

Target

Active Day

Trevose, Pennsylvania, United States
website
Active Day is a provider of adult day health services and in-home personal care. With more than 80 locations across the country, the Company provides therapeutic activities, opportunities for socialization, and expert health and nursing care to improve its members’ daily functioning and delay the onset of chronic illness. Active Day was founded in 1995 and is based in Trevose, Pennsylvania.

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Buyer(S) 1

Buyer

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1999
PE ASSETS 6.0B USD
Size Mega
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 87 of 151
Sector (Consumer Services) 1 of 4
Type (Secondary Buyout) 36 of 70
State (Pennsylvania) 3 of 5
Country (United States) 84 of 142
Year (2015) 12 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-07 Meridian Programs

New Brighton, Minnesota, United States

Meridian Programs is a provider of addiction treatment services at residential and outpatient facilities. Meridian Programs is based in New Brighton, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-21 KODA Distribution Group

Stamford, Connecticut, United States

KODA Distribution Group LLC is a distributor of specialty chemicals through its Monson, GMZ and Ribelin operating units.

Sell -

Seller(S) 1

SELLER

Clearview Capital

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1999
PE ASSETS 645M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Clearview Capital LLC is a private equity firm that targets investments in North American companies with operating profits between $4 and $20 million. Sectors of interest include general manufacturing, plastics, food processing, furniture, education, healthcare, outsourcing, distribution, oil field services, consumer products, and industrial. The Firm prefers majority investment situations in transaction types that include corporate divestitures, management buyouts, and ownership transfers of closely-held companies. Clearview Capital was formed in 1999 and has offices in Connecticut, California.

DEAL STATS #
Overall 14 of 22
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 9 of 15
State (Pennsylvania) 2 of 3
Country (United States) 14 of 22
Year (2015) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-01 ResultsCX

Fort Lauderdale, Florida, United States

ResultsCX provides automation-enabled customer support, acquisition, enrollment, retention, membership assistance, technical support, and transaction processing services to companies across the healthcare, telecom and cable, media, and retail industries. ResultsCX was founded in 1990 and is based in Fort Lauderdale, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-29 Controlled Products

Dalton, Georgia, United States

Controlled Products is a manufacturer and distributor of premium quality synthetic turf for sports, training, landscape, leisure, and specialty applications. Controlled products are sold to a national network of dealers and installers under Controlled Products’ highly recognizable brand names, SporTurf, GrassTex, and Synthetic Turf International. Controlled also delivers a broad array of turf products to original equipment manufacturers and large regional installation companies under private label arrangements. Controlled Products is based in Dalton, Georgia.

Buy -
Mergr

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Company

Legal