M&A Deal Summary

Audax Private Equity Acquires Centerline Communication

On January 11, 2022, private equity firm Audax Private Equity acquired communications company Centerline Communication from Stone-Goff Partners, Wincove Private Holdings and Northwood Ventures

Acquisition Highlights
  • This is Audax Private Equity’s 1st transaction in the Communications sector.
  • This is Audax Private Equity’s 143rd transaction in the United States.
  • This is Audax Private Equity’s 12th transaction in Massachusetts.

M&A Deal Summary

Date 2022-01-11
Target Centerline Communication
Sector Communications
Buyer(s) Audax Private Equity
Sellers(s) Stone-Goff Partners
Wincove Private Holdings
Northwood Ventures
Deal Type Secondary Buyout
Advisor(s) KeyBanc Capital Markets (Financial)
Husch Blackwell LLP (Legal)

Target

Centerline Communication

West Bridgewater, Massachusetts, United States
Centerline Communication provides turnkey wireless telecommunications infrastructure services to carriers, equipment suppliers, and tower operators. Services include project management and real estate services, outsourced maintenance services for HVAC and generator units at wireless sites, and general construction services including installation and equipment modification. Centerline provides services across the U.S., with a particularly strong presence in the Northeast and Mid-Atlantic markets. Centerline Communication was founded in 2006 and is based in West Bridgewater, Massachusetts.

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Buyer(S) 1

Buyer

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B 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 148 of 167
Sector (Communications) 1 of 1
Type (Secondary Buyout) 63 of 72
State (Massachusetts) 12 of 13
Country (United States) 143 of 158
Year (2022) 2 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-10 Accent Food Services

Pflugerville, Texas, United States

Accent Food Services is a provider of complete menu of refreshment solutions including vending, self-check-out markets, office coffee, pantry and catering to thousands of customers, providing superior customer service and innovation. Accent Food Services is based in Pflugerville, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-31 Renovo Home Partners

Dallas, Texas, United States

Renovo Home Partners is a Direct-to-Consumer (DTC) platform focused on high-volume, quick-turn bath, window, cabinet refacing, siding, roofing and other remodeling services to homeowners. Renovo Home Partners is based in Dallas, Texas.

Buy -

Seller(S) 3

DESCRIPTION

Stone-Goff Partners is a private equity investment firm that acquires and builds lower middle-market companies. Specific areas of interest include marketing, media, education, healthcare services, industrial services, information services, consumer products and services, food and beverage, tourism, e-commerce and retail sectors. Stone-Goff Partners was established in 2006 and is headquartered in New York City.


DEAL STATS #
Overall 6 of 8
Sector (Communications) 1 of 1
Type (Secondary Buyout) 4 of 5
State (Massachusetts) 3 of 3
Country (United States) 6 of 8
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-17 Danforth Advisors

Waltham, Massachusetts, United States

Danforth Advisors is an integrated and scalable “one-stop-shop” solution for life science companies for all operations from the controller through CFO performing activities ranging from accounting and operational finance services to financial planning and analysis, M&A and IPO readiness. Danforth Advisors has served as a strategic and trusted thought partner to over 300 clients across all stages of a company’s life cycle. Danforth Advisors was founded in 2011 and is based in Waltham, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-18 DSG

Little Rock, Arkansas, United States

DSG partners with organizations to create customized sales enablement solutions that turn growth strategies into sales results. Sales and marketing executives retain DSG to develop client-specific sales tools and content, build sales playbooks, produce education videos, and more. DSG was formed in 1992 and is based in Little Rock, Arkansas.

Sell -
SELLER

Wincove Private Holdings

New York, New York, United States

Investor Investor


Category Private Equity Firm
Founded 2008
Size Small
Type Sector Agnostic
DESCRIPTION

Wincove Private Holdings is an independent private equity firm that invests in smaller, profitable companies in partnership with management. Wincove looks to support family and/or seller succession transactions, recapitalizations, management buyouts, consolidations, and corporate divestitures. Wincove is a generalist firm, and will consider opportunities in a variety of industries. The Firm targets companies located in the US and Canada. Prospective companies typically have less then $50 million in revenue. Wincove Private Holdings was formed in 2008 and is based in New York City.


DEAL STATS #
Overall 6 of 10
Sector (Communications) 1 of 1
Type (Secondary Buyout) 3 of 5
State (Massachusetts) 1 of 1
Country (United States) 6 of 10
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-04 Globalization Partners

Boston, Massachusetts, United States

Globalization Partners is a global employment platform that simplifies remote team building by making it fast and easy for companies to hire anyone, anywhere, within minutes. Globalization Partners was founded in 2012 and is based in Boston, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-08 Comstar Technologies

West Chester, Pennsylvania, United States

Comstar Technologies is a full-service provider of technology and telecommunications services to corporate and institutional customers. The company’s services include cloud-based VOIP (voice-over-internet protocol) phone systems, the installation, and maintenance of traditional phone systems, managed IT services, network infrastructure and cabling, and the integration of security, fire, and A/V systems. Comstar Technologies was founded in 1989 and is based in West Chester, Pennsylvania.

Sell -
SELLER

Northwood Ventures

Syosset, New York, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 100M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Northwood Ventures is a private investment firm that invests at all stages of company development, including venture, buyout, consolidation, growth, recapitalization, and turnaround situations. Northwood prefers opportunities located within the US and will consider both minority and control situations. Northwood's typical investment ranges from $5 to $15 million. Target sectors include telecommunications, manufacturing, retailing/consumer, financial services, and service-oriented business industries. Northwood Ventures was formed in 1983 and is based in Syosset, New York.


DEAL STATS #
Overall 49 of 49
Sector (Communications) 11 of 11
Type (Secondary Buyout) 5 of 5
State (Massachusetts) 3 of 3
Country (United States) 45 of 45
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-17 Danforth Advisors

Waltham, Massachusetts, United States

Danforth Advisors is an integrated and scalable “one-stop-shop” solution for life science companies for all operations from the controller through CFO performing activities ranging from accounting and operational finance services to financial planning and analysis, M&A and IPO readiness. Danforth Advisors has served as a strategic and trusted thought partner to over 300 clients across all stages of a company’s life cycle. Danforth Advisors was founded in 2011 and is based in Waltham, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-28 TMC

Orlando, Florida, United States

TMC is an engineering company specializing in transportation planning and traffic engineering. TMC serves private clients and governmental agencies at the local, county, and state levels. TMC was founded in 2012 and is based in Orlando, Florida.

Buy -