Audax Private Equity Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Audax Private Equity has acquired 18 companies. It has also invested in 4 others.

Audax Private Equity’s most common sectors for investment arehealthcare services (10%) and business services (8%) . The Firm’s most common investment types include secondary buyout (47%) and buyout (lbo, mbo, mbi) (27%). In total, Audax Private Equity has invested in 32 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2004 when it acquired Ready Mixed Concrete for $210M.

In the last 3 years, Audax Private Equity has exited 20 companies. The Firm’s most common exit type is secondary buyout (54%). Audax Private Equity’s largest (disclosed) exit occurred in 2010 when it sold Lincoln Industrial for $1.0B.

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M&A Summary

  • M&A Total Activity249
    • M&A Buy Activity152
    • M&A Sell Activity97
  • Total Sectors Invested 39
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 64
  • M&A Advisors 31

Audax Private Equity

Audax Management Company LLC

101 Huntington Avenue,
Boston, Massachusetts 02199
United States
(617) 859-1500
www.audaxprivateequity.com
LPRequests@audaxgroup.com

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.


Investment Criteria

Sectors of Interest: Beverages, Building Materials, Business Services, Consumer Products, Consumer Services, Distribution, Education, Energy Services and Equipment, Environmental, Food, Healthcare Services, Information Technology, Internet Software and Services, Life Science, Machinery, Manufacturing, Marketing, Media, Medical Products, Software, Technology Hardware, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Growth Capital, Recapitalization, Special Situations/Distressed, Secondary Buyout, Venture

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 5 80
Investment Size - -
Enterprise Value - 800
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (5.2/yr) # 126 4 9 11 2 - 152
vol $896M $896M
Sell (4.6/yr) # 74 3 10 6 3 1 97
vol $4.9B $250M $736M $1.6B $913M $8.4B
  249

Most Recent M&A

Company Date Value Type
TPC Wire & Cable Corp. 2024-02-08 - Trade Sale
Macedonia, Ohio · www.tpcwire.com
Dobbs Tire & Auto Centers, Inc. 2023-12-18 - Growth Capital
High Ridge, Montana · www.gotodobbs.com
Peak Toolworks 2023-12-13 - Trade Sale
Jasper, Indiana · www.peaktoolworks.com
Elgin Fastener Group LLC 2023-09-11 - Trade Sale
Wheeling, Illinois · www.elginfasteners.com
CorEvitas LLC 2023-07-06 913M USD Trade Sale
Waltham, Massachusetts · www.corevitas.com
Krayden, Inc. 2023-04-05 - Secondary Buyout
Denver, Colorado · www.krayden.com
Salon Lofts Group LLC 2022-11-30 - Secondary Buyout
Columbus, Ohio · www.salonlofts.com
Medi IP LLC 2022-11-28 - Buyout (LBO, MBO, MBI)
Tampa, Florida · www.mediweightloss.com
DISA Global Solutions, Inc. 2022-09-12 - Secondary Buyout
Houston, Texas · www.disa.com
WellSpring Pharmaceutical Corp. 2022-08-23 - Secondary Sale
Sarasota, Florida · www.wellspringpharm.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
The Chartis Group LLC 2019-05-09 HealthScape Advisors 2024-02-06 4
Chicago, Illinois · www.chartis.com Chicago, Illinois · www.healthscapeadvisors.com
Fastener Distribution Holdings LLC (FDH) 2017-04-04 BJG Electronics, Inc. 2023-04-27 9
El Segundo, California · www.fdhaero.com Ronkonkoma, New York · www.bjgelectronics.com
Innovative Chemical Products Group 2016-01-19 ICP Industrial Solutions Group 2023-02-06 1
Andover, Massachusetts · www.icpgroup.com Itasca, Illinois · www.icpindustrial.com
DISA Global Solutions, Inc. 2022-09-12 Global HR Research LLC 2022-12-05 3
Houston, Texas · www.disa.com Fort Myers, Florida · www.ghrr.com
Aspen Surgical Products, Inc. 2019-07-10 Symmetry Surgical, Inc. 2022-10-27 6
Caledonia, Michigan · www.aspensurgical.com Nashville, Tennessee · www.symmetrysurgical.com
48forty Solutions LLC 2020-12-01 CALco Pallet Co. 2022-08-25 16
Alpharetta, Georgia · www.48forty.com Richmond, Illinois · www.usacalco.com
48forty Solutions LLC 2020-12-01 Girard Wood Products - Pallet Recycling Division 2022-06-06 15
Alpharetta, Georgia · www.48forty.com Puyallup, Washington
Centerline Communication LLC 2022-01-11 STC Wireless Resources, Inc. 2022-03-10 2
West Bridgewater, Massachusetts · www.centerlinecommunications.com Fontana, California · www.stcnetcom.com
S.J. Electro Systems, Inc. 2021-06-28 L.W. Allen, Inc. 2021-08-02 1
New Hope, Minnesota · www.sjeinc.com Madison, Wisconsin · www.lwallen.com
Aspen Surgical Products, Inc. 2019-07-10 Briggs Healthcare - Stork 2021-06-14 5
Caledonia, Michigan · www.aspensurgical.com Moines, Iowa

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services 6 (12%) - 15 (10%) 190M (21%)
Business Services 4 (8%) - 12 (8%) -
Distribution 3 (6%) - 12 (8%) -
Manufacturing 4 (8%) - 9 (6%) -
Medical Products 3 (6%) - 9 (6%) -
Automotive 2 (4%) - 8 (5%) -
Information Technology 4 (8%) - 7 (5%) -
Chemicals 1 (2%) - 6 (4%) -
Electrical Equipment 1 (2%) - 6 (4%) -
Software 1 (2%) - 6 (4%) -
Safety/Security 1 (2%) - 5 (3%) 161M (18%)
Machinery 1 (2%) - 5 (3%) -
Building Materials 2 (4%) - 4 (3%) -
Consumer Services 4 (8%) - 4 (3%) -
Internet Software and Services 2 (4%) - 4 (3%) -
Construction 1 (2%) - 3 (2%) 210M (23%)
Life Science - - 3 (2%) -
Marketing - - 3 (2%) -
Transportation 2 (4%) - 3 (2%) -
Plastics - - 2 (1%) 175M (20%)
Technology Hardware 1 (2%) - 2 (1%) 100M (11%)
Consumer Products 1 (2%) - 2 (1%) -
Education - - 2 (1%) -
Energy Services and Equipment - - 2 (1%) -
Environmental 1 (2%) - 2 (1%) -
Financial Services 1 (2%) - 2 (1%) -
Packaging 1 (2%) - 2 (1%) -
Retail - - 2 (1%) -
Publishing - - 1 (1%) 60M (7%)
Aerospace 1 (2%) - 1 (1%) -
Apparel/Textiles 1 (2%) - 1 (1%) -
Communications 1 (2%) - 1 (1%) -
Electronics - - 1 (1%) -
Engineering - - 1 (1%) -
Food - - 1 (1%) -
Furniture - - 1 (1%) -
Media - - 1 (1%) -
Metals/Mining 1 (2%) - 1 (1%) -
Test/Measurement Equipment - - 1 (1%) -
Total 51 - 153 $896M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 48 (94%) - 145 (95%) 706M (79%)
  Texas 5 (10%) - 15 (10%) -
  Illinois 6 (12%) - 14 (9%) 100M (11%)
  California 4 (8%) - 13 (8%) 161M (18%)
  Massachusetts 5 (10%) - 12 (8%) 60M (7%)
  Florida 4 (8%) - 11 (7%) -
  Ohio 3 (6%) - 9 (6%) 175M (20%)
  New York 2 (4%) - 7 (5%) -
  Minnesota 2 (4%) - 6 (4%) -
  New Jersey 1 (2%) - 6 (4%) -
  Pennsylvania 4 (8%) - 5 (3%) -
  Colorado 1 (2%) - 5 (3%) -
  North Carolina 1 (2%) - 4 (3%) 210M (23%)
  Connecticut 1 (2%) - 4 (3%) -
  Georgia 2 (4%) - 3 (2%) -
  Wisconsin 1 (2%) - 3 (2%) -
  Maryland 1 (2%) - 3 (2%) -
  Arizona 1 (2%) - 3 (2%) -
  Tennessee - - 3 (2%) -
  Indiana - - 3 (2%) -
  Michigan 1 (2%) - 2 (1%) -
  New Hampshire - - 2 (1%) -
  Missouri - - 2 (1%) -
  Oklahoma 1 (2%) - 1 (1%) -
  Montana 1 (2%) - 1 (1%) -
  District of Columbia 1 (2%) - 1 (1%) -
  Washington - - 1 (1%) -
  Virginia - - 1 (1%) -
  South Carolina - - 1 (1%) -
  Rhode Island - - 1 (1%) -
  Nevada - - 1 (1%) -
  Maine - - 1 (1%) -
  Kentucky - - 1 (1%) -
Canada 3 (6%) - 6 (4%) 190M (21%)
  Ontario 2 (4%) - 4 (3%) 190M (21%)
  British Columbia 1 (2%) - 1 (1%) -
  Quebec - - 1 (1%) -
United Kingdom - - 2 (1%) -
Domestic 48 (94%) - 145 (95%) 706M (79%)
Cross-border 3 (6%) - 8 (5%) 190M (21%)
Total 51 - 153 $896M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 29 (57%) - 71 (46%) 261M (29%)
Buyout (LBO, MBO, MBI) 8 (16%) - 41 (27%) 385M (43%)
Recapitalization 3 (6%) - 14 (9%) 60M (7%)
Growth Capital 7 (14%) - 12 (8%) -
Divestiture 2 (4%) - 8 (5%) 190M (21%)
Consolidation 1 (2%) - 4 (3%) -
Special Situations/Distressed - - 1 (1%) -
Stake Purchase - - 1 (1%) -
Venture 1 (2%) - 1 (1%) -
Total 51 - 153 $896M

Exits by Deal Type

Type Total # Value
Secondary Sale 52 (54%) 2.4B (29%)
Trade Sale - Public Company 17 (18%) 5.7B (68%)
Trade Sale 17 (18%) 230M (3%)
Merger 5 (5%) -
Recapitalization 4 (4%) -
Bankruptcy 1 (1%) -
Stake Sale 1 (1%) -
Total 97 $8.4B

Top M&A Advisors

Financial Deals
Lincoln International
5
Harris Williams & Co.
3
Jefferies
2
Legal Deals
Kirkland & Ellis
59
Ropes & Gray
53
Blake, Cassels & Graydon LLP
3

Deal Values

buy # Total
$100M to $1B 4 $736M
< $100M 2 $160M
TOTAL $896M
Largest Ready Mixed Concrete Co.
$210M (2004-11-09)
sell # Total
> $1B 1 $1.0B
$100M to $1B 19 $7.3B
< $100M 1 $44M
TOTAL $8.4B
Largest Lincoln Industrial Corp.
$1.0B (2010-12-01)

M&A Connections

Deals
Acquired from
Investor(s)
50%
76 (50%)
Strategic(s)
6%
9 (6%)
Exited to
Investor(s)
57%
55 (57%)
Strategic(s)
39%
38 (39%)

FAQ

When was Audax Private Equity founded?

Audax Private Equity was founded in 1999.

What type of investor is Audax Private Equity?

Audax Private Equity is a private equity firm.

Where is Audax Private Equity headquartered?

Audax Private Equity is headquartered in Boston, Massachusetts.

How much capital does Audax Private Equity have under management?

Audax Private Equity has 16.0B USD under management.

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