Not Blades But Spheres Propel NDI To Big Equity Gain: Corrected


Firm: Audax Group

Target: Northern Digital (NDI)

Entry Price: More than 8x EBITDA

Return Multiple: Several times its investment

Advisers: Bank of Montreal (to NDI on its purchase); Harris Williams and Morgan Keegan co-advised on the sale

Northern Digital had an acquisition opportunity right under its nose. But it took a little push from its sponsor, Audax Group, to consummate what would prove to be a transformative deal. The roughly 120-person Canadian company, also known as NDI, ...

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