Audax Group has acquired Andrews Holdings Inc. from DFW Capital Partners, Meridian Venture Partners and Theo Capital Partners. No pricing terms were disclosed. AbleCo Finance provded senior note financing, while Greyrock Capital Group provided mezzanine financing. Andrews is a Valencia, Calif.-based provider of private security and risk mitigation services.
Audax Group announced it has completed the acquisition of Andrews Holding, LLC (“Andrews International”) from DFW Capital Partners, Meridian Venture Partners, and Theo Capital Partners. Based in Valencia, California, with an East Coast headquarters in New York City and 17 branch offices across the United States, Andrews International is a provider of private security and risk mitigation services to the entertainment, high-end retail, financial services, commercial property management, and education verticals. Services include uniformed security, consulting and investigations, personal protection, special event security, and disaster response. Randy Andrews, Chairman and Chief Executive Officer of Andrews International, will continue to lead the management team.
Geoffrey S. Rehnert, Co-CEO of Audax Group, said “Andrews International is a leading provider of comprehensive security services with a strong track record of customer retention and satisfaction. We look forward to working with management to build the business by further penetrating existing end markets, geographic expansion, and strategic add-on acquisitions.”
Randy Andrews, Chairman and Chief Executive Officer of Andrews International, said “We are excited to partner with Audax Group. Their experience sourcing add-on acquisitions will be a valuable resource as we expand our product lines, and penetrate new geographies and industry verticals.”
Ropes & Gray LLP advised Audax Group. Lazard Middle Market LLC advised Andrews International. AbleCo Finance LLC provided senior debt financing and Greyrock Capital Group provided mezzanine debt financing to support the transaction.
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York, Audax manages in excess of $4.3 billion of equity, mezzanine debt, and senior loan capital. For more information visit the Audax Group website www.audaxgroup.com.