BOSTON, MA (April 14, 2016) –Audax Private Equity ("Audax") today announced that it has partnered with management to acquire HALO Branded Solutions ("HALO"). Terms of the transaction were not disclosed.
Headquartered in Sterling, Illinois, HALO is a leading promotional products distributor in the $20 billion per year promotional products industry. The company has a nationwide sales force and expects to continue its profitable growth by offering innovative client solutions, priced competitively, and supported by world-class operations and award-winning marketing.
Geoffrey S. Rehnert, Co-CEO of Audax, said, “We are impressed with HALO's leadership position in an industry that is positioned for strong growth. The loyalty of their sales team, passion of their support staff, and vision of their leadership team provide an attractive platform for continued impressive financial performance. We are eager to invest in their success.”
Marc Simon, CEO of HALO, said, “We are very pleased with our new partners at Audax. They are a prestigious investment firm with a proven track record of building success with their portfolio companies. Their investment in HALO is a direct result of the hard work and industry leading results that our sales force and support team have achieved. This relationship will continue our efforts for profitable growth through investment in world-class sales support, carefully selected strategic acquisitions, and an added emphasis on attracting top-performing industry professionals to the HALO organization.”
No changes in management or operating direction are planned as part of the sale. “Our senior management team invested alongside Audax in this transaction.” noted Simon, adding, “Our team is focused on delivering the greatest value proposition for selling professionals in our industry. Our team's passion and experience are the real assets in this partnership.”
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 95 platform and 467 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.