The Audax Group has acquired Data Intensity, a provider of cloud services for enterprise applications, in partnership with the company’s management team.
Data Intensity is a provider of cloud services to medium and large enterprises for enterprise applications such as the Oracle E-Business Suite, as well as surrounding technologies from other vendors such as Microsoft. The company is headquartered in Bedford, MA (www.dataintensity.com).
“Data Intensity is a leading provider of outsourced application management services for Oracle’s ERP platform. We look forward to working with management to grow the business by implementing sales initiatives, expanding product offering, and making strategic add-on acquisitions,” said Geoffrey Rehnert, Co-CEO of Audax Group.
The Audax Group makes control investments of $10 million to $100 million in middle market companies with transaction values of $25 million to $500 million. Sectors of interest include industrial manufacturing; energy; outsourced industrial services; consumer products; healthcare devices and services; non-asset based logistics; technology; aerospace and defense; business services; and direct marketing. The firm was founded in 1999 and has offices in Boston, MA and New York, NY (www.audaxgroup.com).
“We are excited to be working with Audax Group. Their experience working with middle market companies will be a valuable resource as we continue to grow our business,” said Kevin Kennefick, CEO of Data Intensity.
Goldman Sachs Specialty Lending Group provided financing to support the transaction and Stifel Nicolaus Weisel acted as financial advisor to Data Intensity.
© 2012 PEPD • Private Equity’s Leading News Magazine • 12-14-12
