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 saleNorthern 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, ...