M&A Deal Summary

Audax Private Equity Acquires Ready Mixed Concrete

On November 9, 2004, private equity firm Audax Private Equity acquired construction company Ready Mixed Concrete for 210M USD

Acquisition Highlights
  • This is Audax Private Equity’s 1st transaction in the Construction sector.
  • This is Audax Private Equity’s largest (disclosed) transaction.
  • This is Audax Private Equity’s 9th transaction in the United States.
  • This is Audax Private Equity’s 2nd transaction in North Carolina.
Investment Fate
  • Ready Mixed Concrete was sold to a publicly-traded strategic buyer in 2006 for 435M USD.

M&A Deal Summary
Date 2004-11-09
Target Ready Mixed Concrete
Sector Construction
Buyer(s) Audax Private Equity
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 210M USD

Target

Ready Mixed Concrete

Raleigh, North Carolina, United States
Ready Mixed Concrete Company is the provider of ready-mixed concrete and concrete-related products to metropolitan and rural markets located throughout North Carolina, South Carolina, and southern Virginia.

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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 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 9 of 153
Sector (Construction) 1 of 3
Type (Buyout (LBO, MBO, MBI)) 5 of 41
State (North Carolina) 2 of 4
Country (United States) 9 of 145
Year (2004) 5 of 5
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-01 nash_elmo Holding

Trumbull, Connecticut, United States

The Nash Engineering Company, a family-owned company based in Trumbull, CT, and elmo vacuum technology GmbH, a division of Siemens AG based in Nuremberg, Germany. The transaction creates a global organization with more than 200 years of combined operating history. The company?s products include liquid ring vacuum pumps, side channel blowers, and a variety of other pumps, compressors, and industrial equipment.

Sell $224M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-12 Arnold Magnetic

Rochester, New York, United States

Arnold Magnetic is a manufacturer of engineered, mission-critical magnetic products for aerospace, military, alternative energy, and industrial applications. Arnold Magnetic was established in 1989 and is based in Rochester, New York.

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