Audax Private Equity Buys RelaDyne
Audax Private Equity Buys RelaDyne
RelaDyne is excited to announce it has officially closed its transaction with Audax Private Equity (“Audax”), a private equity firm focused on building leading middle market companies. The transaction closed on July 22, 2016. Based in Boston, Massachusetts, Audax partners with management teams to transform established market leading companies into appreciably larger, better-positioned, and more valuable enterprises.
RelaDyne, with this new partnership, will be focused on aggressively growing through acquisitions and organically. RelaDyne will continue to be focused on growth in the Lubricant, Reliability Services, and Fuel businesses in alignment with its strategic vendors. The entire leadership and management team will remain with the organization through this change of ownership and will continue to invest in high quality associates through future acquisitions and new hires.
“RelaDyne and its team of 750+ associates are excited to partner with Audax,” states Larry Stoddard, President and CEO of RelaDyne. “We are very appreciative of the investment AEA Investors made into our infrastructure and growth that has allowed us to get to this point.”
RelaDyne was formed in 2010 by the combination of four industry-leading oil distributors and the financial backing of AEA Investors LP, a leading global private investment firm focused on private equity and debt investments in the middle market. Since its formation, RelaDyne has completed over 20 acquisitions and has grown to over 40 locations servicing customers in 45 states and 22 nations.
“We are proud of the business we have built over the last 6 years, but we are just getting started…,” says Jeff Hart, who leads RelaDyne’s M&A activities and is one of its founders. “With this new partnership with Audax, we’ll be able to significantly increase our M&A activities to continue our mission to become a national platform for the distribution of lubricants, fuel and reliability services.”
About Audax Private Equity
Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Audax has invested over $3.5 billion in 98 platform and 494 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. Audax Private Equity is an integral part of Audax Group, an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and Menlo Park, Audax Group has over $10 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses. For more information, visit the Audax Group website www.audaxgroup.com.
About AEA Investors LP
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon, and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA’s active individual investors (the “Participants”) include an extraordinary network of more than 75 of the world’s leading industrial families, business executives and former government leaders. Today, AEA’s approximately 70 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have approximately $10.0 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments. AEA Private Equity invests across four sectors: value added industrial products, specialty chemicals, consumer / retail and services.