M&A Deal Summary

Audax Private Equity and Tailwind Acquire Colony Hardware

On November 14, 2018, private equity firms Audax Private Equity and Tailwind acquired distribution company Colony Hardware from Tailwind and AEA Investors

Acquisition Highlights
  • This is Audax Private Equity’s 10th and Tailwind’s 3rd transaction in the Distribution sector.
  • This is Audax Private Equity’s 110th and Tailwind’s 40th transaction in the United States.
  • This is Audax Private Equity’s 4th and Tailwind’s 2nd transaction in Connecticut.

M&A Deal Summary
Date 2018-11-14
Target Colony Hardware
Sector Distribution
Buyer(s) Audax Private Equity
Tailwind
Sellers(s) Tailwind
AEA Investors
Deal Type Secondary Buyout
Advisor(s) BB&T Capital Markets (Financial)
Davis Polk & Wardwell (Legal)

Target

Colony Hardware

Orange, Connecticut, United States
Colony Hardware is a distributor of safety equipment, power tools, and other small-ticket job site essentials to multiple trades of contractors serving the commercial construction and public infrastructure construction markets. Colony Hardware was founded in 1988 and is based in Orange, Connecticut.

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Buyer(S) 2

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 115 of 167
Sector (Distribution) 10 of 13
Type (Secondary Buyout) 51 of 72
State (Connecticut) 4 of 4
Country (United States) 110 of 158
Year (2018) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-13 Numotion

Hazelwood, Missouri, United States

Numotion is a provider of complex rehabilitation products, including custom power and manual wheelchairs for disabled adults and children. Numotion was founded in 2001 and is based in Hazelwood, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-19 PlayMonster

Beloit, Wisconsin, United States

PlayMonster is a provider in the toy and game industry, and designs, manufactures, distributes, and markets games, children’s puzzles, preschool toys, creative activities, and teaching tools. PlayMonster was founded in 1985 and is based in Beloit, Wisconsin.

Buy -
Buyer

Tailwind

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 3.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tailwind is an independent private equity firm focused on making control investments in companies operating in the healthcare, media/communications, and business services sectors. Tailwind looks to invest $25 to $200 million in profitable businesses valued above $500 million. The Firm seeks companies with proven business models and strong opportunities for growth, either organically or through acquisition. Tailwind Capital was formed in 2003 and is based in New York, New York.

DEAL STATS #
Overall 40 of 51
Sector (Distribution) 3 of 4
Type (Secondary Buyout) 11 of 18
State (Connecticut) 2 of 2
Country (United States) 40 of 51
Year (2018) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-31 Loenbro

Westminster, Colorado, United States

Loenbro is a provider of specialized services to the energy, industrial, and infrastructure markets. Its range of service offerings includes inspection, industrial maintenance, instrumentation and electrical, industrial insulation and coatings, pipeline construction, and other complementary specialty services. Loenbro was formed in 1998 and is based in Black Eagle, Montana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-28 Apex Companies

Rockville, Maryland, United States

Apex is a multi-disciplinary environmental services firm with 28 branches located throughout the Eastern and Central United States. The company provides a broad platform of environmental services, including stormwater system design, engineering, and maintenance; ports, harbors, and water system design and engineering; environmental remediation; industrial hygiene services; and general site assessment, regulatory compliance, and environmental consulting work. Apex was formed in 1988 and is headquartered in Rockville, Maryland.

Sell -

Seller(S) 2

SELLER

Tailwind

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 3.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tailwind is an independent private equity firm focused on making control investments in companies operating in the healthcare, media/communications, and business services sectors. Tailwind looks to invest $25 to $200 million in profitable businesses valued above $500 million. The Firm seeks companies with proven business models and strong opportunities for growth, either organically or through acquisition. Tailwind Capital was formed in 2003 and is based in New York, New York.

DEAL STATS #
Overall 15 of 34
Sector (Distribution) 2 of 2
Type (Secondary Buyout) 3 of 14
State (Connecticut) 1 of 1
Country (United States) 15 of 34
Year (2018) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-31 Loenbro

Westminster, Colorado, United States

Loenbro is a provider of specialized services to the energy, industrial, and infrastructure markets. Its range of service offerings includes inspection, industrial maintenance, instrumentation and electrical, industrial insulation and coatings, pipeline construction, and other complementary specialty services. Loenbro was formed in 1998 and is based in Black Eagle, Montana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-28 Apex Companies

Rockville, Maryland, United States

Apex is a multi-disciplinary environmental services firm with 28 branches located throughout the Eastern and Central United States. The company provides a broad platform of environmental services, including stormwater system design, engineering, and maintenance; ports, harbors, and water system design and engineering; environmental remediation; industrial hygiene services; and general site assessment, regulatory compliance, and environmental consulting work. Apex was formed in 1988 and is headquartered in Rockville, Maryland.

Sell -
SELLER

AEA Investors

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

AEA Investors is a private investment firm focused on investing in and acquiring businesses headquartered primarily in the US, Europe, and China. AEA looks for companies operating in stable to growing industries with a proven ability to generate positive cash-flow. Broad sectors of interest include value-added industrial products/services, specialty chemicals, consumer products, and services. In addition to its primary middle-market private equity fund, AEA maintains additional funds targeted towards mezzanine financing, senior secured debt, and small business buyouts. AEA Investors was formed in 1968 and is based in New York City.

DEAL STATS #
Overall 55 of 78
Sector (Distribution) 11 of 16
Type (Secondary Buyout) 22 of 34
State (Connecticut) 1 of 2
Country (United States) 51 of 71
Year (2018) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-13 Numotion

Hazelwood, Missouri, United States

Numotion is a provider of complex rehabilitation products, including custom power and manual wheelchairs for disabled adults and children. Numotion was founded in 2001 and is based in Hazelwood, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-08 Lipari Foods

Warren, Michigan, United States

Lipari Foods is a distributor of perimeter-of-the-store, specialty, and branded food products, serving over 6,300 customers throughout the Midwest and beyond. The Company’s products span the deli, bakery, dairy, specialty retail, seafood, packaging, confections, ethnic, and organic categories, providing customers with the broadest selection of largely perishable on-trend, perimeter-of-the-store, and specialty products. Lipari Foods was founded in 1963 and is based in Warren, Michigan.

Sell -
Mergr

Product

Company

Legal