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| 6/3/2009 Audax Group Announces the Acquisition of Garda’s U.S. and Mexico Guarding Operations for Andrews International
ACQUISITION ANNOUNCEMENT:
BOSTON, MA – June 3, 2009 – Audax Group announced it has completed the acquisition of the U.S. and Mexico guarding operations of Garda World Security Corporation (TSX:GW) (“Garda”). The acquisition further expands the national and international presence of Andrews Holding, LLC (“Andrews International”), which Audax Group acquired in October 2008. Headquartered in Washington, D.C., with 13 additional branch offices, Garda’s U.S. and Mexico guarding operations provide uniformed security, strike security/asset protection, and consulting & investigation services. Andrews International is a leading full-service security company with 23 offices across the U.S.
Geoffrey S. Rehnert, Co-CEO of Audax Group, said “The acquisition of Garda’s U.S. and Mexico guarding operations expands Andrews’ presence in the U.S. and extends their presence into Latin America. We will continue to work with management to build a leading global security company through add-on acquisitions that complement the company’s services and expand its geographic reach.”
Randy Andrews, Chairman and CEO of Andrews International, said “We are excited for this opportunity to enhance our operations and footprint with the acquisition of a company that values the same core business philosophy as Andrews International: a focus on quality service, flexibility and entrepreneurial innovation.”
Ropes & Gray LLP advised Audax Group. Lazard Middle Market advised Garda.
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York, Audax manages in excess of $4 billion of equity, mezzanine debt, and senior loan capital. For more information visit the Audax Group website www.audaxgroup.com
Contact:
Geoffrey S. Rehnert – Co-CEO, Audax Group (617) 859-1503 | | | 12/24/2008 Audax Together With Management Acquired United Recovery Systems
ACQUISITION ANNOUNCEMENT:
December 2008 - United Recovery Systems, L.P. ("URS"), based in Houston, Texas, is a provider of third party contingency debt collection services, specializing in the collection of early-stage precharge off and post-charge off receivables. With locations in Arizona, Oklahoma, Texas, and Mexico, URS serves clients in the credit card, retail, and auto loan industries.
The Deal
Audax Private Equity acquired URS from its founder, Doug Schultz, who remains an active shareholder in the business. Kaulkin Ginsberg advised URS. The CIT Group/Business Credit, Inc. and SunTrust Bank provided debt financing to support the transaction.
The Thesis
Acquire a leading contingency debt collection provider with a stable customer base in a growing and fragmented industry. Audax will work with management to grow the business organically through penetration of adjacent industry verticals, expansion of its global footprint, and strategic add-on acquisitions.
Audax Investment Criteria
Audax Private Equity invests over $2.4 billion of equity capital in control acquisitions of middle market companies across a wide range of industries. We look to acquire companies in which sound strategy and superior execution can enhance revenue and cash flow and create equity value. These companies generally have some or all of the following characteristics: the potential to achieve scale through add-on acquisitions, the potential and/or need for global presence, the need for operational improvement, the need to supplement the existing management team, and the need for strategic refinement or redirection.
For more information please contact:
Jay Jester, Managing Director
617-859-1509
jjester@audaxgroup.com
Edward Feuerstein, Principal
617-859-1542
efeuerstein@audaxgroup.com | | | 12/4/2008 Audax completes add-on acquisition for AAMP with purchase of Select Products
ACQUISITION ANNOUNCEMENT:
December 2008 - Select Distributors, Inc. ("Select Products"), based in Plantation, Florida, is a manufacturer and distributor of custom car audio installation accessories and materials. Products include specialty actuators, adhesives, cable ties & wires, electrical relays & switches, fiberglass, hardware, interfacing products, and plexiglass.
The Deal
Audax Private Equity, together with AAMP of America ("AAMP"), acquired Select Products from private owners.
The Thesis
Audax acquired AAMP in November 2006 as a manufacturer and distributor of branded audio accessories and consumer electronics integration devices to the automotive aftermarket. The acquisition of Select Products supplements AAMP’s product offerings in the installation accessory segment while maintaining superior levels of customer training and support. Audax will continue to work with management to execute a growth strategy focused on new product introductions and penetration of new and existing channels.
Audax Investment Criteria
Audax Private Equity invests over $2.4 billion of equity capital in control acquisitions of middle market companies across a wide range of industries. We look to acquire companies in which sound strategy and superior execution can enhance revenue and cash flow and create equity value. These companies generally have some or all of the following characteristics: the potential to achieve scale through add-on acquisitions, the potential and/or need for global presence, the need for operational improvement, the need to supplement the existing management team, and the need for strategic refinement or redirection.
For more information please contact:
Jay Jester, Managing Director
617-859-1509
jjester@audaxgroup.com
Edward Feuerstein, Principal
617-859-1542
efeuerstein@audaxgroup.com | | | 10/29/2008 Audax completes add-on acquisition for Lewis-Goetz with purchase of JA-MAR
ACQUISITION ANNOUNCEMENT:
October 2008 - JA-MAR Conveyor & Components, Inc. (“JA-MAR”), based in Bellaire, Ohio, is a regional provider of belt splicing and installation services to the Ohio, Pennsylvania, and West Virginia regions.
The Deal
Audax, together with Lewis-Goetz and Company, Inc. (“Lewis-Goetz”), acquired JAMAR from private owners.
The Thesis
Audax acquired Lewis-Goetz in June 2007 as a leading value-added distributor with diverse end-markets in the highly fragmented industrial rubber products distribution industry. The acquisition of JA-MAR expands Lewis-Goetz service offering to include belt splicing and installation services and strengthens its relationship with key customers in the power generation industry. Audax will continue to work with management to execute a growth strategy focused on geographic expansion, operational improvements, and strategic add-on acquisitions.
Audax Investment Criteria
Audax Private Equity invests over $2.4 billion of equity capital in control acquisitions of middle market companies across a wide range of industries. We look to acquire companies in which sound strategy and superior execution can enhance revenue and cash flow and create equity value. These companies generally have some or all of the following characteristics: the potential to achieve scale through add-on acquisitions, the potential and/or need for global presence, the need for operational improvement, the need to supplement the existing management team, and the need for strategic refinement or redirection.
For more information please contact:
Jay Jester, Managing Director
617-859-1509
jjester@audaxgroup.com
Edward Feuerstein, Principal
617-859-1542
efeuerstein@audaxgroup.com | | | 10/16/2008 Audax completes fourth add-on acquisition for Lewis-Goetz with purchase of RBH
ACQUISITION ANNOUNCEMENT:
October 2008 - The Rubber Belting and Hose group of companies, (“RBH”), based in Kansas City, Missouri, is a distributor of industrial supplies and fabricated rubber products. With distribution facilities in Iowa, Kansas, Missouri, and Nebraska, RBH serves the agricultural and industrial markets in the Midwest.
The Deal
Audax, together with Lewis-Goetz and Company, Inc. (“Lewis-Goetz”), acquired RBH from private owners.
The Thesis
Audax acquired Lewis-Goetz in June 2007 as a leading value-added distributor with diverse end-markets in the highly fragmented industrial rubber products distribution industry. The acquisition of RBH diversifies Lewis-Goetz s product portfolio, expands its market reach into the grain segment, and increases its presence in the Midwestern US. Audax will continue to work with management to execute a growth strategy focused on geographic expansion, operational improvements, and strategic add-on acquisitions.
Audax Investment Criteria
Audax Private Equity invests over $2.4 billion of equity capital in control acquisitions of middle market companies across a wide range of industries. We look to acquire companies in which sound strategy and superior execution can enhance revenue and cash flow and create equity value. These companies generally have some or all of the following characteristics: the potential to achieve scale through add-on acquisitions, the potential and/or need for global presence, the need for operational improvement, the need to supplement the existing management team, and the need for strategic refinement or redirection.
For more information please contact:
Jay Jester, Managing Director
617-859-1509
jjester@audaxgroup.com
Edward Feuerstein, Principal
617-859-1542
efeuerstein@audaxgroup.com | | |
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