RelaDyne Announces Purchase Agreement with Audax Private Equity
Cincinnati, OH (PRWEB) July 19, 2016 -- RelaDyne is pleased to announce it has entered into a purchase agreement with Audax Private Equity (“Audax”), a private equity company focused on building leading middle market companies. The transaction is scheduled to close on or before July 31, 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 accelerating its acquisitions both in number of deals and size of companies.
“RelaDyne and its team of 750+ associates are excited to be partnering with Audax,” states Larry Stoddard, President and CEO of RelaDyne. “They bring great expertise and funding focused on distribution and will help us meet the long-term goals as we continue to build this great company.”
Since its formation in 2010, RelaDyne has completed over 20 acquisitions, 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, however 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, as we have an aggressive partner that aligns with 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 97 platform and 493 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 http://www.audaxgroup.com.
About RelaDyne
RelaDyne, headquartered in Cincinnati, Ohio, is an industry leading lubricant, fuel, and DEF distributor providing customers with integrated reliability management services for industrial and commercial businesses in the United States. RelaDyne was formed in 2010 by the combination of four industry leaders – Mid-Town Petroleum, Inc. (Bridgeview, IL), Oil Distributing Company (Cincinnati, OH), The Hurt Company, Inc. (Houston, TX) and Pumpelly Oil Company (Sulphur, LA). RelaDyne’s distribution platform spans more than 30 locations serving states in the Central US. In May 2014, RelaDyne’s industrial services business expanded with the acquisition of Turbo Filtration Corporation (TFC), enhancing their offering to key industrial customers throughout the US. For more information, visit http://www.RelaDyne.com.
Ashley Rickman, RelaDyne, http://www.reladyne.com, +1 5134896000, [email protected]
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