Houston-based Distribution International said Tuesday that it has completed its acquisition of Mid-Tex Distribution Company. No financial terms were disclosed. Headquartered in San Antonio, Texas, Mid-Tex is a distributor of thermal and acoustical insulation products. Distribution International is a portfolio company of Audax Private Equity and The CapStreet Group.
HOUSTON–(BUSINESS WIRE)–Distribution International, Inc. announced it has completed the acquisition of Mid-Tex Distribution Company, Inc. (“Mid-Tex”). Headquartered in San Antonio, Texas, Mid-Tex is a distributor of thermal and acoustical insulation products. Distribution International (DI), based in Houston, Texas, is a portfolio company of Audax Private Equity (“Audax”) and The CapStreet Group (“CapStreet”).
Robert Hlavenka, Vice President of Distribution International USA said, “We are pleased to grow our existing distribution network in the San Antonio market. We look forward to servicing the Mid-Tex customer base and will continue the tradition of great customer service.”
Richard Jupe, former President of Mid-Tex said, “DI has been a well-respected competitor in our market. Based on DI’s outstanding commitment to customer service and product quality, they were a natural choice for my business. I look forward to working with DI as a vendor partner to my contracting business.”
Distribution International is a value added distributor of insulation, related specialty fabricated products, and safety supplies. 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.
Fredrikson & Byron P.A. served as legal counsel to Audax and CapStreet.