Harris Williams & Co. Advises Fastener Distribution Holdings on its Sale to Audax Private Equity

April 5, 2017

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that it has advised Fastener Distribution Holdings (FDH), a portfolio company of Housatonic Partners, on its sale to Audax Private Equity. FDH is a growing aerospace and defense supply chain solutions provider comprised of two operating entities, Arlington International Aviation Products and Aircraft Fasteners International. The transaction was led by Chris Rogers, Doug Kinard, Chris Smith and David Jones from Harris Williams & Co.’s Aerospace, Defense & Government Services (ADG) Group and Chris Toussaint from the firm’s Richmond office.

“Led by a team of proven executives, FDH has grown to become a critical supply chain partner to leading aircraft OEMs, defense primes and specialized distributors,” said Chris Rogers, a managing director at Harris Williams & Co. “We are thrilled to have found a great partner in Audax Private Equity that shares in management’s strategic vision for the platform.”

“There continues to be a scarcity of differentiated aerospace and defense assets that offer the combination of accelerating platforms and cost effective solutions,” said Doug Kinard, a director at Harris Williams & Co. “We anticipate that investment platforms with these characteristics will continue to receive strong attention in today’s market.”

FDH, located in Arlington, Texas and Marina Del Rey, California, is a growing aerospace and defense supply chain solutions provider focused on serving the C-Class parts needs of the world’s leading aircraft OEMs, defense primes and specialized distributors.

Housatonic Partners is a private equity investment firm founded in 1994 with more than $1 billion in capital under management. The firm invests in growing, profitable businesses with highly recurring revenue. Housatonic Partners has backed exceptional management teams in more than 85 small to mid-sized companies.

Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Audax Private Equity has invested $4 billion in 102 platform and 554 add-on companies. Through its disciplined Buy & Build approach, Audax Private Equity 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 $11 billion in assets under management across its Private Equity, Mezzanine and Senior Debt businesses.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence.  Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s ADG Group offers strategic advice to a global base of leading aerospace, defense and government services clients. For more information on the ADG Group and other recent transactions, visit the ADG Group’s section of the Harris Williams & Co. website. 

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 7078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.