M&A Deal Summary

Audax Private Equity Acquires Rough Country

On January 28, 2013, private equity firm Audax Private Equity acquired automotive company Rough Country from Rosewood Private Investments and Renovo Capital

Acquisition Highlights
  • This is Audax Private Equity’s 3rd transaction in the Automotive sector.
  • This is Audax Private Equity’s 61st transaction in the United States.
  • This is Audax Private Equity’s 2nd transaction in Tennessee.
Investment Fate
  • Rough Country was sold to a consortium of financial buyers in 2017.
  • Rough Country was sold to a consortium of financial buyers in 2021.

M&A Deal Summary

Date 2013-01-28
Target Rough Country
Sector Automotive
Buyer(s) Audax Private Equity
Sellers(s) Rosewood Private Investments
Renovo Capital
Deal Type Recapitalization

Target

Rough Country

Dyersburg, Tennessee, United States
Rough Country is a designer and manufacturer of specialty-engineered, metal-formed exhaust hardware components for automobiles and light trucks. Rough Country was founded in 1939 and is based in Dyersburg, Tennessee.

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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 63 of 170
Sector: Automotive M&A 3 of 8
Type: Recapitalization M&A Deals 6 of 15
State: Tennessee M&A 2 of 3
Country: United States M&A 61 of 161
Year: 2013 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-04 Reed Group

Westminster, Colorado, United States

Reed Group is a provider of absence management services that help employers comply with federal and state regulation and get employees back to work quickly and safely. Reed Group has been a trusted partner to employers, insurers, TPAs, government organizations, attorneys, and healthcare providers. Reed Group was formed in 1860 and is based in Westminster, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-27 ATG Rehab

Naperville, Illinois, United States

ATG Rehab is a provider of mobility and seating solutions including power wheelchairs, manual and lightweight wheelchairs, adaptive seating, standing and positioning frames, specialty ambulatory and bath aids, and related rehabilitative rental equipment.

Sell -

Seller(S) 2

DESCRIPTION

Rosewood Private Investments is a family-owned private investment firm focused on acquiring and building companies. The Firm will consider opportunities throughout the US and generally seeks to commit $50 to $100 million per transaction. Target companies typically possess experienced management and diverse customers. Rosewood does not have any sector preferences, however, the Firm will not invest in oil/gas, real estate, banking, insurance, and biotechnology. Rosewood Private Investments is based in Dallas, Texas.


DEAL STATS #
Overall 2 of 14
Sector: Automotive M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Tennessee M&A 1 of 1
Country: United States M&A 2 of 14
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-24 Port-A-Cool

Center, Texas, United States

Port-A-Cool, LLC is the industry pioneer and market leading designer, manufacturer, and seller of portable evaporative cooling units and evaporative cooling media. Port-A-Cool, through its extensive value-added distribution network and relationships with big box and specialty retailers, sells products that provide customers with versatile, efficient and lower cost cooling solutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-28 Renwood Mills

Newton, North Carolina, United States

Renwood Mills sells flour and other baking products in the Southeastern United States for use in food service, food production, and in retail channels under the Southern Biscuit and Tenda-Bake brands. Renwood Mills was founded in 1935 and is based in Newton, North Carolina.

Buy -
SELLER

Renovo Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2009
PE ASSETS 900M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Renovo Capital is a private equity firm focused on partnering with business owners, entrepreneurs and management teams to invest in businesses undergoing varying degrees of operational, financial or market-driven change. Renovo Capital will consider opportunities throughout North America and looks to commit $10 to $50 million per transaction. Sectors of interest include niche manufacturing, business services, energy services, technology, and e-commerce. Renovo Capital was formed in 2009 and is based in Dallas, Texas.


DEAL STATS #
Overall 1 of 8
Sector: Automotive M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Tennessee M&A 1 of 1
Country: United States M&A 1 of 8
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-28 ATTOM Data Solutions

Irvine, California, United States

ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency, and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. ATTOM Data Solutions was founded in 1996 and is based in Irvine, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-28 Renwood Mills

Newton, North Carolina, United States

Renwood Mills sells flour and other baking products in the Southeastern United States for use in food service, food production, and in retail channels under the Southern Biscuit and Tenda-Bake brands. Renwood Mills was founded in 1935 and is based in Newton, North Carolina.

Buy -