M&A Deal Summary

Sentinel Capital Partners and Audax Private Debt Acquire NSI Industries

On November 18, 2024, private equity firm Sentinel Capital Partners and mezzanine finance firm Audax Private Debt acquired electrical equipment company NSI Industries from Odyssey Investment Partners and HarbourVest Partners

Acquisition Highlights
  • This is Sentinel Capital Partners’ 6th and Audax Private Debt’s 2nd transaction in the Electrical Equipment sector.
  • This is Sentinel Capital Partners’ 91st and Audax Private Debt’s 113th transaction in the United States.
  • This is Sentinel Capital Partners’ 2nd and Audax Private Debt’s 8th transaction in North Carolina.

M&A Deal Summary

Date 2024-11-18
Target NSI Industries
Sector Electrical Equipment
Buyer(s) Sentinel Capital Partners
Audax Private Debt
Sellers(s) Odyssey Investment Partners
HarbourVest Partners
Deal Type Secondary Buyout

Target

NSI Industries

Huntersville, North Carolina, United States
NSI Industries is a provider of a wide variety of electrical connectors including insulated connectors and mechanical, digital time controls, time switches, wire management products, and related electrical components for construction, maintenance, and repair applications. NSI Industries was established in 1975 and is based in Huntersville, North Carolina.

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Buyer(S) 2

Buyer

Sentinel Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 11.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sentinel Capital Partners is a private equity firm that targets investments in middle-market companies with strong management and 'attractive growth prospects'. Sentinel looks to invest up to $400 million of equity in companies generating EBITDA of up to $65 million. Sectors of interest include business services/outsourcing, consumer products and services, food and restaurants, franchising, and manufacturing. Prospective transaction situations include management buyouts, recapitalizations, corporate divestitures, take-privates, and growth capital financings. Sentinel Capital Partners was formed in 1995 and is based in New York, New York.


DEAL STATS #
Overall 99 of 99
Sector: Electrical Equipment M&A 6 of 6
Type: Secondary Buyout M&A Deals 38 of 38
State: North Carolina M&A 2 of 2
Country: United States M&A 91 of 91
Year: 2024 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-07 TranSystems

Kansas City, Missouri, United States

TranSystems is an consulting, engineering and architectural solutions firm. TranSystems was founded in 1996 and is based in Kansas City, Missouri.

Sell -
Buyer

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies with EBITDA between $10 and $100 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations. Audax Private Debt is based in New York, New York.


DEAL STATS #
Overall 115 of 120
Sector: Electrical Equipment M&A 2 of 2
Type: Secondary Buyout M&A Deals 55 of 58
State: North Carolina M&A 8 of 8
Country: United States M&A 113 of 118
Year: 2024 M&A 10 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-04 Riccobene Associates Family Dentistry

Cary, North Carolina, United States

Riccobene Associates Family Dentistry is a provider of comprehensive general and multi-specialty dental services through modern, well-appointed dental offices including several dedicated pediatric and orthodontic practices. Riccobene Associates Family Dentistry was founded in 2000 and is based in Cary, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-10 Prescott’s

Monument, Colorado, United States

Prescott’s is a provider and refurbisher of surgical microscopes in the United States. Prescott’s services and sells refurbished and new microscopes to hospitals and surgical centers, primarily in the neuro, ophthalmic and ENT surgical specialties. Prescott’s was founded in 1984 and is based in Monument, Colorado.

Buy -

Seller(S) 2

SELLER

Odyssey Investment Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 8.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Odyssey Investment Partners is a private equity firm that seeks control/majority investments in middle-market companies. Odyssey looks to back existing management and make investments in the form of leveraged acquisitions, growth financings and recapitalizations. Sectors of interest include industrial manufacturing, business and financial services, aerospace products and services, and 'route-based services'. Odyssey Investment Partners is based in New York, New York.


DEAL STATS #
Overall 36 of 38
Sector: Electrical Equipment M&A 1 of 1
Type: Secondary Buyout M&A Deals 20 of 20
State: North Carolina M&A 3 of 4
Country: United States M&A 34 of 36
Year: 2024 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-12 Testek Solutions

Wixom, Michigan, United States

Testek Solutions designs, manufactures, and supports highly reliable aerospace and defense test equipment and testing facilities for OEMs, MROs, and operators. Testek Solutions was founded in 1969 and is based in Wixom, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-27 Mercalis

Morrisville, North Carolina, United States

Mercalis is a provider of patient access and medication adherence support services on behalf of pharmaceutical manufacturers. Mercalis was founded in 2000 and is based in Morrisville, North Carolina.

Sell -
SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 147.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 145 of 150
Sector: Electrical Equipment M&A 2 of 2
Type: Secondary Buyout M&A Deals 36 of 37
State: North Carolina M&A 4 of 4
Country: United States M&A 90 of 91
Year: 2024 M&A 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-24 Nonni s

Tulsa, Oklahoma, United States

Nonni's is a manufacturer and marketer of artisanal cookies and other premium baked snacks. Nonni’s premium products are synonymous with artisanal, authentic, and Italian-inspired. Products are marketed under the Nonni’s, THINaddictives, and La Dolce Vita brand names, and sold through a diverse distribution platform that includes major customers in club, grocery, mass market, foodservice, and online retailing. Nonni's was founded in 1988 and is based in Tulsa, Oklahoma.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-09 AssuredPartners

Orlando, Florida, United States

AssuredPartners is a full-service insurance broker, offering property and casualty and employee benefits insurance products and services to middle-market businesses, public institutions, and high-net-worth individuals. AssuredPartners was founded in 2011 and is based in Orlando, Florida.

Sell $13.5B