Harris Williams & Co. Advises RelaDyne, Inc. on its Sale to Audax Private Equity
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for 25 years, announces the sale of RelaDyne, Inc. (RelaDyne), a portfolio company of AEA Investors, LP (AEA), to Audax Private Equity. Harris Williams & Co. served as the financial advisor to RelaDyne, a leading distributor of lubricants and fuels and a premier provider of industrial reliability services. The transaction was led by Ryan Nelson of the Harris Williams & Co.’s Industrials Group and Bob Baltimore, Josh Garner and Graham Gillam of the firm’s Specialty Distribution Group.
“RelaDyne is an extraordinary distribution platform in the fuel and lubricants industry. Through its partnership with AEA, the RelaDyne team has built a company positioned for many years of continued success. It has been a pleasure working with Larry Stoddard and the rest of the RelaDyne team and we look forward to seeing what the future holds,” said Ryan Nelson, a managing director at Harris Williams & Co.
“The combination of RelaDyne’s uniquely diverse product and service offering and unrelenting focus on operational excellence and customer satisfaction, with Audax Private Equity’s track record of achievement in distribution creates exciting opportunities for the company,” added Bob Baltimore, a managing director at Harris Williams & Co.
RelaDyne, headquartered in Cincinnati, Ohio, is an industry leading lubricants, fuel and DEF distributor providing customers with integrated reliability management services for industrial, commercial and automotive businesses in the U.S. Since its founding in 2010, the company has completed over 20 strategic acquisitions creating a distribution platform that spans more than 40 locations and serves customers in 45 states.
AEA 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 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 invests across four sectors: value added industrial products, specialty chemicals, consumer/retail and services.
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.
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 Industrials Group has experience across a variety of sectors, including advanced manufacturing; aggregates, metals, and mining; building products; chemicals and specialty materials; industrial technology; and packaging. For more information on the firm’s Industrials Group and other recent transactions, visit the Industrials Group’s section of the Harris Williams & Co. website.
Harris Williams & Co.’s Specialty Distribution Group has experience across a variety of sectors, including branch-based distributors; specialty catalog and direct marketing; consumer; industrial, MRO and safety; automotive and heavy duty aftermarket; building and construction products; healthcare; technology; electrical and communications; and alcohol, tobacco and firearms. For more information on the firm’s Specialty Distribution Group, visit the Specialty Distribution 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 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.