3i to buy A&A Manufacturing from Audax Group


3i has agreed to buy A&A Manufacturing, a maker of protective and safety equipment, from Audax Group. The deal is valued at $202.5 million and 3i is investing about $110 million.

Robert W. Baird, Kirkland & Ellis and PwC advised 3i on the transaction while Houlihan Lokey and Ropes & Gray advised Audax Group. GE led the banking syndicate, which also included Societe Generale and Bank of Ireland.

On his company’s acquisition by 3i, Brian McSharry, A&A’s chief executive said in a statement: “3i was a natural choice of partner for A&A. With their international network and local market insight, we will be able to accelerate our international growth strategy and be best placed to service our global customer base.”

According to the company, which is based in Wisconsin and Germany, A&A generated revenues of $91 million in 2013.

Photo courtesy of Shutterstock