Harris Williams & Co. Advises Tri-Northern Distribution, Inc. in its Sale to Audax Group

April 5, 2012

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Tri-Northern Distribution, Inc. (Tri-Northern), a distributor of electronic security products, to Audax Group (Audax). Tri-Northern was a portfolio company of Brazos Private Equity Partners, LLC (Brazos). Harris Williams & Co. acted as the exclusive advisor to Tri-Northern. The transaction closed on April 4, 2012 and was led from the firm’s Richmond office. 

“As the leading independent distributor within the highly attractive electronic security product distribution market, Tri-Northern is ideally positioned to take advantage of favorable industry dynamics. The company’s distribution model is best-in-class and it has a proven platform to build through acquisition,” said Bob Baltimore, a managing director at Harris Williams & Co. “Tri-Northern performed well in 2011 and is off to a strong start in 2012. The company is poised to continue this great momentum.”

Tri-Northern is North America’s largest independent distributor of low-voltage electronic security products including video, intrusion, access/fire and other ancillary products. Tri-Northern, created in March 2010 by the merger of two leading electronic security product distributors - Tri-Ed Distribution and Northern Video Systems - holds a unique market position as the second largest and only independent distributor with significant size and scale within the $5.5 billion electronic security products distribution industry.

Brazos is a Dallas-based private equity firm that manages approximately $1.4 billion of equity capital.  Brazos focuses on investments in leading middle market commercial and industrial, consumer, healthcare and business services companies, seeking to partner with outstanding management teams and/or families of closely-held businesses to maximize value.  Brazos has been one of the most active middle market private equity investment firms over the past decade, having completed over 60 acquisitions. 

Audax, founded in 1999, is a leading investor in middle market companies.  With offices in Boston and New York, Audax has raised in excess of $5.0 billion of equity, mezzanine debt and senior loan capital.