New platform marks Audax’ latest investment in the specialty distribution market.
BOSTON–(BUSINESS WIRE)–Audax Private Equity (“Audax”), a leading alternative investment manager and capital partner for North American middle market companies, announced the acquisition of Krayden, Inc. Audax acquired Krayden from Charlottesville, VA-based private equity firm Quad-C Management. Terms of the deal are not disclosed.
Krayden is a value-added distribution platform with longstanding supplier relationships and a solutions-focused technical sales team serving its customers across engineering-driven applications in aerospace and defense, electronics, and industrial markets. The company enjoys long relationships with a blue-chip supplier base and provides mission-critical products to original equipment manufacturers (OEMs) who rely on Krayden’s suite of products for specialized, ‘no-fail’ applications.
“Krayden checks the most important criteria for us,” noted Don Bramley, Senior Managing Director at Audax Private Equity. “The company is led by a talented management team with long-term supplier and customer relationships, which underscore Krayden’s value proposition as a technical distribution partner able to help customers solve challenges.”
The investment was sourced through Audax Private Equity’s Industrial Services & Technologies (IST) vertical, one of six core industry specializations. Since inception, Audax Private Equity has acquired more than 160 platforms and completed over 1,200 add-on acquisitions. Audax has significant experience in the specialty distribution and chemicals space with previous investments in Gabriel Performance Products, a specialty chemicals manufacturer sold to Huntsman Corp. in 2021, and KODA Distribution, a specialty chemicals distributor sold to Azelis Group in 2015. Audax also controls multiple active investments in distribution, including EIS, a value-added distributor of advanced process materials to OEMs in critical industries, and GCG, a value-added distributor of connectivity and automation products and solutions.
“Audax Private Equity stood out as a preferred investor due to the firm’s deep experience in the distribution and specialty chemicals space as well as its proven buy-and-build approach to catalyze growth,” noted Wayne Wagner, Chief Executive Officer of Krayden. “We want to thank the team at Quad-C for their support and guidance over the previous five years. We’re excited about this next phase of growth and will leverage the resources available through Audax to accelerate our expansion efforts.”
“Krayden has an established track record of buying and successfully integrating add-on acquisitions,” noted Andrew Oliver, Managing Director at Audax Private Equity. “The strength of its relationships and diverse customer base positions Krayden as an acquirer of choice as management seeks to further scale the business and expand its product set.”
Evercore Partners served as advisor to the sellers. Kirkland & Ellis served as legal counsel to Audax, while White & Case LLP served in the same capacity to Quad-C Management. Advancy provided strategy diligence support to Audax.
ABOUT AUDAX PRIVATE EQUITY:
Based in Boston and San Francisco, Audax Private Equity is a leading middle market investment firm with approximately $15 billion of assets under management, over 185 employees, and 85-plus investment professionals. Since its founding in 1999, the firm has invested in more than 160 platforms and 1,200 add-on acquisitions. Through our disciplined buy-and-build approach, across six core industry verticals, Audax helps portfolio companies execute on organic and inorganic growth initiatives that fuel revenue expansion, optimize operations, and significantly increase equity value.
Audax Private Equity is a part of Audax Group, a leading alternative investment manager with approximately $36 billion of assets under management. For more information, visit audaxprivateequity.com or follow us on LinkedIn.
ABOUT KRAYDEN INC.:
Krayden (https://krayden.com) is a stocking distributor who offers technical expertise and features premier products including sealants, adhesives, coatings, encapsulates, release agents, solder, solder chemicals, supplies, and dispensing equipment. Our locations can be found throughout the United States, Canada, Mexico, Brazil, Singapore, Malaysia, the Philippines, and Europe. Krayden is representative of the best manufacturers in the engineered materials industry. We receive full support from our suppliers and work hard to keep our clients up to date about all of the latest and greatest products in the market. At every Krayden location, inventory is constantly being monitored for shelf life as well as quality.
Zachary Tramonti / Catherine Livingston