M&A Deal Summary

Audax Private Equity and ABRY Partners Acquires Broadcast Electronics

On February 16, 2006, private equity firms Audax Private Equity and ABRY Partners acquired technology hardware company Broadcast Electronics, Inc. from Thompson Street Capital Partners for 100M USD

Acquisition Highlights
  • This is Audax Private Equity’s 1st and ABRY Partners’ 2nd transaction in the Technology Hardware sector.
  • This is Audax Private Equity’s 5th and ABRY Partners’ 12th largest (disclosed) transaction.
  • This is Audax Private Equity’s 16th and ABRY Partners’ 30th transaction in the United States.
  • This is Audax Private Equity’s 1st and ABRY Partners’ 2nd transaction in Illinois.
Investment Fate
  • Broadcast Electronics was sold to a strategic buyer in 2017.

M&A Deal Summary

Date 2006-02-16
Target Broadcast Electronics, Inc.
Sector Technology Hardware
Buyer(s) Audax Private Equity
ABRY Partners
Sellers(s) Thompson Street Capital Partners
Deal Type Secondary Buyout
Deal Value 100M USD

Target

Broadcast Electronics, Inc.

Quincy, Illinois, United States
website
Broadcast Electronics, Inc. is a provider of equipment and software solutions to the radio broadcast market.

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Buyer(S) 2

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
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 16 of 136
Sector (Technology Hardware) 1 of 2
Type (Secondary Buyout) 5 of 61
State (Illinois) 1 of 12
Country (United States) 16 of 130
Year (2006) 1 of 9
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-17 Chart Industries, Inc.

Ball Ground, Georgia, United States

Chart Industries is a provider of cryogenic equipment used in industrial gas, hydrocarbon, and medical applications. Chart Industries was formed in 1992 and is based in Garfield Heights, Ohio. Chart Industries was founded in 1859 and is based in Ball Ground, Georgia.

Sell $460M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-2 Silver State Materials LLC

Las Vegas, Nevada, United States

Silver State Materials LLC, based in Las Vegas, Nevada, is one of the largest providers of ready-mixed concrete and aggregates for residential and commercial construction in that city. Silver State operates four concrete plants in Clark County, Nevada, and an aggregates production facility in Boulder City, Nevada.

Buy -
Buyer

ABRY Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 12.8B USD
SizeMega
Type Sector Focused
DESCRIPTION

ABRY Partners is a media and communications focused private equity investment firm. Specific areas of interest include television, publishing, convention/trade shows, for-profit training, couponing, monitoring services, telephone companies, communications towers, music libraries, database providers, wireless communications, and in-store advertisers. ABRY can provide both equity and mezzanine capital, typically committing $20 to $200 million of equity or $15 to $50 million of mezzanine capital per transaction. Prospective transaction situations include buyouts, expansion financings, platform acquisitions, consolidations, and recapitalizations. ABRY Partners was formed in 1989 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 31 of 150
Sector (Technology Hardware) 2 of 3
Type (Secondary Buyout) 4 of 35
State (Illinois) 2 of 4
Country (United States) 30 of 129
Year (2006) 5 of 10
Size (of disclosed) 12 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-02 CapRock Communications, Inc.

Houston, Texas, United States

CapRock Communications, Inc. is a provider of satellite communications services to the energy industry and the government.

Buy $200M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-10 Source Medical Solutions, Inc. (SourceMedical)

Birmingham, Alabama, United States

Source Medical Solutions, Inc. (SourceMedical) is a provider of outpatient information solutions and revenue cycle management services for rehabilitation clinics, ambulatory surgery centers and specialty hospitals nationwide. SourceMed is based in Birmingham, Alabama.

Buy -

Seller(S) 1

SELLER

Thompson Street Capital Partners

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 2.6B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Thompson Street Capital Partners is a private equity firm that targets control stakes in profitable, mid-sized North American companies with $5 to $20 million of EBITDA. Thompson Street looks for family businesses, private companies seeking liquidity, corporate divestitures, and public companies going private. Areas of interest include healthcare services, business services, electronics, information technology, and engineered products companies. Thompson Street will not consider investments in start-ups, early stage companies, or real estate. Thompson Street Capital was founded in 2000 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 1 of 36
Sector (Technology Hardware) 1 of 3
Type (Secondary Buyout) 1 of 13
State (Illinois) 1 of 5
Country (United States) 1 of 36
Year (2006) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-12 Keystone Printed Specialties Co. LLC

Old Forge, Pennsylvania, United States

Keystone Printed Specialties Co. LLC is a designer, manufacturer, and printer of short-run, quick-turnaround specialty packaging for a variety of markets including consumer products, media, pharmaceuticals, beverage, food, cosmetics, personal care, and entertainment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-12 Connecticut Electric, Inc.

Anderson, Indiana, United States

Connecticut Electric, Inc. is a designer, manufacturer, and distributor of specialty electrical components that are sold through electrical distributors, hardware stores, and home improvement retailers. Connecticut Electric, Inc. products include proprietary branded circuit breakers as well as manual transfer switches, spa panels, and HVAC whips and disconnects. Connecticut Electric, Inc. was founded in 1906 and is based in Anderson, Indiana.

Buy -