Houston-based Distribution International, a portfolio company of Audax Private Equity,said Tuesday that it has closed its buy of certain assets of Insulation Services. No financial terms were disclosed. Located in Greenville, SC, ISI is a distributor of thermal and acoustic insulation products.
HOUSTON–(BUSINESS WIRE)–Distribution International, Inc., (DI), announced it has completed the acquisition of certain assets of Insulation Services, Inc, (ISI). Located in Greenville, SC, ISI is a single-site distributor of thermal and acoustic insulation products. The ISI location will merge into the existing DI location in Piedmont, SC. Distribution International, based in Houston, Texas, is a portfolio company of Audax Private Equity (“Audax”) and The CapStreet Group (“CapStreet”).
Robert Hlavenka, Vice President and General Manager of Distribution International USA “Our recent asset purchase of ISI further strengthens our position in the South Carolina market. We welcome Randy Spencer who brings us over 20 years of knowledge in the mechanical insulation industry as well as strong relationships with customers and vendors. Everyone at DI is looking forward to working with Randy and we welcome the opportunity to service ISI’s loyal customer base.”
Randy Spencer, Outside Sales Representative (previously Director of Operations at Insulation Services, Inc.) said “This is an exciting opportunity for our customer and vendor base. I am looking forward to working with the DI team; together we will continue to offer the highest quality products and service in the market.”
Distribution International is a value-added distributor of insulation, related specialty fabricated products, and safety supplies to the industrial, commercial, and marine end markets. DI serves industrial, commercial and marine customers from distribution centers in Texas, Louisiana, Mississippi, Alabama, Arkansas, Tennessee, Kentucky, Missouri, Michigan, South Carolina, North Carolina, Virginia, Maryland, New York, and New Jersey in the United States, as well as British Columbia, Alberta, Ontario, Quebec, and Nova Scotia in Canada.
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston and New York, Audax has over $5 billion in assets under management in its Private Equity, Mezzanine, and Senior Debt businesses. For more information visit the Audax Group website www.audaxgroup.com.
ABOUT THE CAPSTREET GROUP
The CapStreet Group, founded in 1990, focuses on investments in lower middle market, privately-held businesses headquartered in Texas and other Sunbelt states. Since inception, the firm has raised approximately $700 million of private equity capital. For more information visit The CapStreet Group website www.capstreet.com.