Audax-backed Colony acquires New South Construction Supply

• The acquisition represents Colony’s 12th acquisition since partnering with Audax Private Equity in November of 2018
• Audax Private Equity has approximately $15 billion of assets under management
• New South was founded in 1981

Colony Hardware Corp, which is backed by Audax Private Equity, has acquired South Carolina-based New South Construction Supply, a distributor of rebar, concrete, masonry, waterproofing products and contractor supplies. No financial terms were disclosed.

Orange, Connecticut-based Colony is a provider of construction materials and jobsite supplies.

The acquisition represents Colony’s 12th acquisition since partnering with Audax Private Equity in November of 2018.

“Colony Hardware has positioned itself as the direct-to-jobsite supplier of choice for contractors,’’ said Young Lee, Managing Director of Audax Private Equity. “The deal for New South is aligned to our investment thesis to support Colony’s growth through both strategic acquisitions and organic initiatives.”

Based in Boston and San Francisco, Audax Private Equity invests in the middle market. The firm has approximately $15 billion of assets under management.

New South was founded in 1981.