“We are excited to have Audax as our new partner. Its operational expertise and successful track record of sourcing and integrating add-on acquisitions will enhance our ability to grow while continuing to build on our brand’s reputation of market-leading value and customer service,” said Ken Dunn, CEO of Rough Country.
Rough Country is a provider of suspension systems to the off-road SUV and truck market. Rough Country’s systems raise the ride height of vehicles to enable steeper approach, higher ground clearance, accommodate larger wheels and tires, and create a more aggressive appearance for the vehicle. The company is headquartered in Dyersburg, TN (www.roughcountry.com).
“Rough Country is a leading supplier of suspension systems to the fragmented SUV and truck enthusiast market. It has excellent brand awareness and customer service. We look forward to working with Ken Dunn and his team to build the business by developing new products and executing strategic add-on acquisitions,” said Geoffrey Rehnert, Co-CEO of Audax Group.
Hilliard Lyons Investment Banking (www.hlinvestmentbanking.com) advised Rough Country. GE Capital Corporation and BMO Capital Markets provided senior debt financing and Arrowhead Mezzanine provided junior debt financing to support the transaction.
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 and New York (www.audaxgroup.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-29-13