Audax Private Equity has acquired DISA Global Solutions, an outsourced provider of employee screening services, from Court Square Capital Partners. Court Square acquired DISA in 2014 from The Riverside Company.
DISA specializes in providing employee testing, screening, and compliance management services to companies that operate in a range of sectors. The company’s services include drug and alcohol testing, background screening, occupational medicine and testing, safety training and transportation compliance. DISA, led by CEO John Petersen, was founded in 1986 and is headquartered in Houston.
“We are thrilled to be partnering with Audax as we enter an exciting new chapter in our history,” said Mr. Petersen. “This investment will help DISA accelerate growth and expand its employee screening, compliance, and workplace health & safety solutions offerings to customers. Partnering with Audax will enhance our ability to continue doing what we do best – providing trusted solutions to our clients.”
With the transaction now closed, DISA and Audax are seeking add-on acquisitions that expand DISA’s geographical footprint, provide entry to new end-markets, or grow its portfolio of services.
“We are excited to work with John and the management team at DISA. Under their leadership, the company has differentiated itself in a large and highly fragmented market by establishing a broad portfolio of comprehensive and best-in-class solutions. These solutions are critical in helping DISA’s customers deliver a safer workplace for both their employees and the environment,” said Young Lee, a managing director at Audax. “We look forward to leveraging our prior experience and working with John and the rest of the management team’s leadership to drive growth both organically and through strategic M&A.”
Audax Private Equity invests in middle-market companies that have from $8 million to $50 million in EBITDA and enterprise values of $50 million to $400 million. The firm has invested over $9 billion in 150 platforms and over 1,100 add-on companies. Sectors of interest include business and consumer services; energy; healthcare; technology, media, and telecom; and industrials including chemicals, infrastructure, and building materials. Audax, with offices in Boston, New York, and San Francisco, is currently investing out of its $3.5 billion, sixth private equity fund.
“DISA is a distinguished leader in the employee screening, compliance, and workplace health & safety solutions space,” said Beau Thomas, a managing director at Audax. “We look forward to supporting the company through investments in technology, innovation, and talent to help accelerate the platform’s growth in both existing and new verticals and to continue to provide best-in-class solutions for its customers.”
New York City-based Court Square, the seller of DISA, invests in middle-market companies that have enterprise values of $150 million to $1.5 billion. Sectors of interest include business services, general industrials, healthcare, and technology/telecommunications.
Harris Williams was the financial advisor to Audax, while Piper Sandler and Stifel served as financial advisors to the DISA.
© 2022 Private Equity Professional | September 16, 2022
SLIPNOT, a portfolio company of Victor Capital Partners and a provider of slip-resistant surfaces, has acquired Amstep Products.
“We are thrilled to welcome the Amstep team to SLIPNOT,” said Mr. Davidson. “We were attracted to Amstep for many reasons – the strength of the brand, the quality people, our shared values, and potential for customer-driven innovation. Together, we can provide both a value and premium stair safety offering for an even broader range of customers, ensuring that more people avoid slip and fall hazards on staircases.”
SER Capital has held a final closing of SER Capital Partners I LP with an aggregate $475 million of capital.
“We collectively built SER to meet the critical market need for an experienced and aligned private investment firm dedicated to sustainable, environmental, and renewable sectors,” said Mr. Advani. “We are committed to economically meeting the burgeoning customer demand for decarbonized, distributed, digitized, and electrified solutions.”
Soundcore Capital Partners has added another team member with the hiring of Matt DelBello as an associate on its deal origination team.
Before joining Soundcore, Mr. DelBello was an assistant vice president at Wellington Management, a Boston-headquartered investment management firm. Earlier, he was a sales associate at GW&K Investment Management, where he was active with the firm’s municipal bond strategies. Mr. DelBello has his undergraduate degree in business and investments from Johnson & Wales University, and his MBA from Boston College.