M&A Deal Summary

Audax Private Equity Acquires Rensa Filtration

On August 15, 2022, private equity firm Audax Private Equity acquired manufacturer Rensa Filtration from The Edgewater Funds

Acquisition Highlights
  • This is Audax Private Equity’s 9th transaction in the Manufacturing sector.
  • This is Audax Private Equity’s 148th transaction in the United States.
  • This is Audax Private Equity’s 16th transaction in Illinois.

M&A Deal Summary

Date 2022-08-15
Target Rensa Filtration
Sector Manufacturing
Buyer(s) Audax Private Equity
Sellers(s) The Edgewater Funds
Deal Type Secondary Buyout
Advisor(s) Robert W. Baird & Co., Inc. (Financial)
Vedder Price P.C. (Legal)

Target

Rensa Filtration

St. Charles, Illinois, United States
Rensa Filtration is a designer and manufacturer of air filtration products and services for commercial and industrial applications. Rensa Filtration is based in St. Charles, Illinois.

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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 156 of 167
Sector (Manufacturing) 9 of 9
Type (Secondary Buyout) 68 of 72
State (Illinois) 16 of 16
Country (United States) 148 of 158
Year (2022) 10 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-23 BlueCat

Toronto, Ontario, Canada

BlueCat provides software-based Enterprise Domain Name System solutions that offer its customers management tools and security capabilities to manage their increasingly complex internal corporate networks. BlueCat's solutions result in improved network performance, enhanced network visibility, reduced network downtime and strengthened network security. BlueCat was founded in 2001 and is based in Toronto, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-23 WellSpring Consumer Healthcare

Sarasota, Florida, United States

WellSpring Consumer Healthcare is a marketer of over-the-counter and cosmetic brands in the skincare, feminine hygiene, and gastrointestinal care categories. WellSpring’s portfolio includes Bactine, Bonine, FDS, Emetrol, Micatin, Gelusil, Glaxal Base, Barriere, and K-Lyte. WellSpring Consumer Healthcare was founded in 1999 and is based in Sarasota, Florida.

Sell -

Seller(S) 1

SELLER

The Edgewater Funds

Chicago, Illinois, United States

Category Private Equity Firm
Founded 1991
PE ASSETS 2.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Edgewater Funds is a private equity firm that targets investments in profitable, middle-market growth companies. Target companies typically have revenues of $20 to $500 million in revenue and EBITDA of $5 to $30 million. The Firm will consider minority and control investments in the form of growth capital financings and traditional buyouts. Edgewater looks for North American businesses operating in a variety of industries. Sectors of interest include business services; financial and government services; consumer products and services; healthcare; IT services and software; and industrial/manufacturing. Edgewater was formed in 1991 and is based in Chicago, Illinois.


DEAL STATS #
Overall 39 of 42
Sector (Manufacturing) 4 of 5
Type (Secondary Buyout) 14 of 16
State (Illinois) 5 of 5
Country (United States) 38 of 41
Year (2022) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-04 Flexible Packaging Specialties

Loveland, Ohio, United States

Flexible Packaging Specialties is a provider of custom flexible packaging solutions to its customers including stand-up pouches, laminated roll stock, custom bags, stock bags, and more. Flexible Packaging Specialties is based in Loveland, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-19 Industrial Service Solutions

Houston, Texas, United States

Industrial Service Solutions is a provider of industrial field services, repair, and refurbishment of equipment found in most industrial and manufacturing facilities in North America. Industrial Service Solutions was founded in 2007 and is based in Houston, Texas.

Sell -