Audax Private Equity has agreed to acquire Marina del Rey, California-based Fastener Distribution Holdings LLC, a provider of aerospace fasteners. The seller was Housatonic Partners. No financial terms were disclosed. Harris Williams & Co. served as financial adviser to FDH while Kirkland & Ellis LLP provided counsel to Audax.
BOSTON–(BUSINESS WIRE)–Audax Private Equity (“Audax”) announced it has partnered with management to acquire Fastener Distribution Holdings, LLC (“FDH”) from Housatonic Partners. Terms of the transaction were not disclosed.
FDH, headquartered in Marina del Rey, CA, is a leading distributor of aerospace fasteners and other c-class components to commercial and defense aircraft manufacturers, subcontractors, and component distributors through its Arlington International Aviation Products (“AIAP”) and Aircraft Fasteners International (“AFI”) divisions.
Geoffrey Rehnert, Co-CEO of Audax, said, “FDH is a highly regarded leader in the fragmented aerospace c-class components distribution market. We are excited to partner with Scott Tucker, Bill Ganss, Rick Ferguson, and the entire FDH team to continue building a leading platform through organic growth and add-on acquisitions.”
Scott Tucker, CEO of FDH, said, “The FDH team is thrilled to be partnering with Audax to accelerate our growth. Audax brings expertise and resources that will help us grow through strategic acquisitions while continuing to provide the outstanding service our customers have come to expect.”
Harris Williams & Co. served as financial advisor and Foley & Lardner, LLP served as counsel to FDH. Kirkland & Ellis, LLP served as counsel to Audax.
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Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Audax has invested $4 billion in 103 platform and 554 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. Audax Private Equity is an integral part of Audax Group, an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and Menlo Park, Audax Group has over $11 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses. For more information, visit the Audax Group website, www.audaxgroup.com.