Mezz Shop Plots $500M Fund III

Arrohead Mezzanine is seeking $500 million for its latest fund, its first since spinning out of Gleacher & Co. , as sponsor use of sub debt is on the rise.

Distribution International Recaps Crossroads C&I Distributors

Distribution International has replaced Yellow Point Equity Partners as the principal shareholder of Crossroads C&I Distributors. Headquartered in Edmonton, Alberta, Crossroads is a distributor of insulation and related fabricated products in Western Canada. Distribution International, based in Houston, Texas, is a portfolio company of Audax Group and The CapStreet Group. PRESS RELEASE Distribution International (“DI”) […]

Audax’s Koda Appoints President and CEO

Koda Distribution Group, a portfolio company of Audax Group, has appointed Frank Bergonzi as president and chief executive officer. Headquartered in Stamford, CT, Koda is a distributor of specialty chemicals for paints and coatings, personal care, dyes, lubricants, construction, sealants and adhesives applications. PRESS RELEASE Koda Distribution Group (“Koda”), a portfolio company of Audax Group, […]

Correct Care Solutions to Acquire Conmed Healthcare for $59 Mln

Correct Care Solutions, which is backed by Audax Group and Frazier Healthcare, has agreed to buy Conmed Healthcare Management for $3.95 a share cash or $59 million. The transaction is expected to close in third quarter. Conmed, of Hanover, Md., provides correctional facility healthcare services to juvenile and adult county detention centers. Cantor Fitzgerald & […]

Quest Appoints President and CEO

Quest Specialty Chemicals, a portfolio company of Audax Group and Moelis Capital Partners, has appointed Doug Mattscheck as president and chief executive officer, effective May 29th. Fred Quinn, Quest’s co-founder and chief executive officer, will continue as chairman of the board of directors and Gerry Loftus, Quest’s co-founder and chief operating officer, will join Quest’s […]

CIT Provides Financing for URS Buy of Enterprise Recovery

The CIT Group provided a senior secured credit facility that backed United Recovery Systems’s buy of Enterprise Recovery Systems. CIT Commercial & Industrial served as sole lead arranger and administrative agent for the financing. Terms of the deal weren’t disclosed. United Recovery is a portfolio company of the Audax Group. PRESS RELEASE CIT Group Inc. […]

Audax Group Sells Help/Systems to Summit Partners

Summit Partners has acquired a majority stake in Help/Systems. Financial terms weren’t disclosed. Audax Group was the seller. Eden Prairie, Minn.-based Help/Systems provides automated operations, security and business intelligence software solutions. The deal is the second time Summit has invested in Help/Systems. The growth equity firm initially invested in the company in 2005 and sold it […]

Brazos Private Equity Partners Sells Tri-Northern

Brazos Private Equity Partners, a Dallas-based investment firm, has exited its investment in Tri-Northern Holdings Inc., a distributor of electronic security products. The buyer was private equity firm Audax Group. Terms were not released. Tri-Northern is based in Woodbury, New York, and was formed by Brazos and management through the acquisition and subsequent merger of […]

Audax Sells Arnold to Compass

Lower mid-market investor Audax Group has sold Arnold Magnetic Technologies Corporation to Compass Diversified Holdings. Headquartered in Rochester, New York, Arnold is a global manufacturer of engineered, magnetic products for aerospace, military, alternative energy, and industrial applications. PRESS RELEASE Audax Group has completed the sale of Arnold Magnetic Technologies Corporation (“Arnold”) to Compass Diversified Holdings […]

Audax Group Wraps Phillips & Temro Deal

Audax Group, the Massachusetts-based private equity firm, completed its acquisition of Temro Industries, the Minnesota-based maker of heating and cooling products for engines. Goldman Sachs advised the seller; Kirkland & Ellis LLP served as advisor to the buyer. Debt was provided for the deal by GE Antares and Chase Capital. PRESS RELEASE Audax Group announced […]

Audax Acquires ADCS

Lower middle market investor Audax Group has completed the acquisition of Advanced Dermatology and Cosmetic Surgery. Headquartered in Maitland, Florida, ADCS is a dermatology-focused physician practice management company, with 53 company-affiliated dermatology clinics in Florida and Ohio providing clinical, cosmetic, and pathology services. PRESS RELEASE Audax Group announced it has completed the acquisition of Advanced […]

NXT Capital Provides Financing for Audax Deal

NXT Capital announced Monday that it has provided a senior credit facility to fund Audax Group‘s acquisition of Advanced Dermatology & Cosmetic Surgery. NXT Capital was the sole lead arranger, sole bookrunner and administrative agent for the deal. Terms were not released. Audax is a middle-market private equity shop. PRESS RELEASE NXT Capital today announced […]

Audax Deals Cinelease

Cinelease, the motion-picture lighting and grip equipment rental service, has been dealt from Boston-based private equity firm Audax Group to Hertz Global Holdings. Houlihan Lokey, Inc. advised Cinelease. Kirkland & Ellis LLP represented Audax Group. Specifics on the deal were not publicized.

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