M&A Deal Summary

Audax Private Equity and Blackstone Credit Acquire ColorMatrix

On May 24, 2006, private equity firm Audax Private Equity and lender Blackstone Credit acquired plastics company ColorMatrix for 175M USD

Acquisition Highlights
  • This is Audax Private Equity’s 1st and Blackstone Credit’s 1st transaction in the Plastics sector.
  • This is Audax Private Equity’s 3rd and Blackstone Credit’s 2nd largest (disclosed) transaction.
  • This is Audax Private Equity’s 19th and Blackstone Credit’s 1st transaction in the United States.
  • This is Audax Private Equity’s 1st and Blackstone Credit’s 1st transaction in Ohio.
Investment Fate
  • ColorMatrix was sold to a publicly-traded strategic buyer in 2011 for 486M USD.

M&A Deal Summary

Date 2006-05-24
Target ColorMatrix
Sector Plastics
Buyer(s) Audax Private Equity
Blackstone Credit
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 175M USD
Advisor(s) Grace Matthews, Inc. (Financial)

Target

ColorMatrix

Berea, Ohio, United States
website
ColorMatrix Group, Inc. is a manufacturer of liquid color and additive concentrates for thermoplastic products. ColorMatrix serves customers in the blow molding, industrial extrusion, and performance molding industries who manufacture beverage bottles, vinyl siding, vinyl pipe, and other plastic products.

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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 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 19 of 153
Sector (Plastics) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 8 of 41
State (Ohio) 1 of 9
Country (United States) 19 of 145
Year (2006) 4 of 9
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-23 Denver Biomedical

Golden, Colorado, United States

Denver Biomedical, Inc. is a manufacturer, distributor, and marketer of medical devices for fluid management in the chest and abdomen.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-06 Herald Media

Boston, Massachusetts, United States

Herald Media is the most powerful advertising and news medium in eastern Massachusetts. For readers, Herald Media's online and print publications offer strong, grassroots journalism written, photographed and edited by people whose foundations are within the communities they serve.

Sell $230M
DESCRIPTION

Blackstone Credit is the lending arm of alternative asset management firm The Blackstone Group. Blackstone Credit looks to provide a variety of capital needs, including loans, high yield and investment grade bonds, structured credit, mezzanine lending, and opportunistic financings. The Blackstone Group acquired lender GSO Capital Partners in 2008 which formed the foundation for Blackstone Credit. Blackstone Credit is based in New York City.


DEAL STATS #
Overall 1 of 12
Sector (Plastics) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 2
State (Ohio) 1 of 1
Country (United States) 1 of 9
Year (2006) 1 of 2
Size (of disclosed) 2 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-01 ArrMaz Custom Chemicals

Mulberry, Florida, United States

ArrMaz Custom Chemicals, Inc. is a producer of process chemicals to the phosphate fertilizer mining and manufacturing industry, a manufacturer of additives to the asphalt paving market, and a growing supplier of other diversified industrial mineral flotation and surfactant chemicals.

Buy -