Audax Private Equity has acquired Fastener Distribution Holdings from Housatonic Partners which acquired the company in August 2014.
Fastener Distribution Holdings (FDH) is a distributor of aerospace fasteners and other C-class components to commercial and defense aircraft manufacturers, 
subcontractors, and component distributors through its Arlington International Aviation Products (www.aiapinc.com) and Aircraft Fasteners International divisions (www.aircraftfast.com). FDH is led by CEO Scott Tucker and has facilities in Arlington, TX and Marina Del Rey, CA.
Aerospace and defense C-class parts include small in size, low cost and high volume commodity parts such as fasteners and bearings. C-class parts are situated across the aircraft including in the fuselage, wings, landing gear fittings, control surfaces, flight control actuating systems, and air-intake areas near the engine.
“FDH is a highly regarded leader in the fragmented aerospace C-class components distribution market. We are excited to partner with Scott Tucker, Bill Ganss, Rick Ferguson, and the entire FDH team to continue building a leading platform through organic growth and add-on acquisitions,” said Geoffrey Rehnert, Co-CEO of Audax.
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 & defense; business services; and direct marketing. The firm was founded in 1999 and has offices in Boston, New York and Menlo Park (www.audaxgroup.com).
Housatonic Partners invests from $10 million to $30 million in buyout or recapitalization transactions. Typical investment targets will have internal revenue growth opportunities; recurring revenues; high EBITDA margins; moderate capital needs; and strong management teams. The firm was founded in 1994 and has offices in Boston and San Francisco (www.housatonicpartners.com).
Harris Williams & Co. was the financial advisor to FDH. “There continues to be a scarcity of differentiated aerospace and defense assets that offer the combination of accelerating platforms and cost effective solutions,” said Doug Kinard, a Director at Harris Williams. “We anticipate that investment platforms with these characteristics will continue to receive strong attention in today’s market.”
© 2017 Private Equity Professional | April 6, 2017
