Return to search

Audax to invest in infrastructure software provider BlueCat

When this deal closes, Madison Dearborn Partners will exit its investment in BlueCat.

  • The transaction is anticipated to close in the third quarter of 2022
  • The seller is Madison Dearborn Partners, which acquired BlueCat Networks in 2017
  • Since its inception in 1999, Audax has raised over $30 billion in capital across its private equity and private debt businesses, according to the private equity firm

Audax Private Equity has agreed to invest in BlueCat Networks, a provider of mission-critical infrastructure software. No financial terms were disclosed.

On the transaction, Stephen Devito, CEO of BlueCat Networks, said in a statement: “This investment represents a significant milestone for our company, customers, employees, and all of our stakeholders, as we commence the next phase of our growth journey. Audax has a lengthy and reputable track record of successfully partnering and working collaboratively with software and technology companies in infrastructure and security, in particular by deploying its Buy & Build strategy to expand offerings and move into adjacent markets, and we look forward to benefiting from the firm’s value-add resources.”

Toronto-based BlueCat was founded in 2001.

The deal is expected to close in the third quarter of 2022. Upon closing, Audax will own a controlling stake in BlueCat, with Madison Dearborn Partners exiting its five-year investment.

William Blair and Nomura Securities International, Inc. are serving as financial advisors to BlueCat. Ropes & Gray is serving as legal counsel to Audax and Kirkland & Ellis is serving as legal counsel to BlueCat and Madison Dearborn.

Since its founding in 1999, Audax has raised over $30 billion in capital across its private equity and private debt businesses.