Distribution International, a portfolio company of The Audax Group and The CapStreet Group, has acquired Midwest Sales, a distributor of industrial and commercial insulation.
Distribution International is a value added distributor of insulation, related specialty fabricated products, and safety supplies to the industrial, commercial, and marine end markets. Distribution International is based in Houston (www.distributionintl.com) and Midwest Sales is based in Saginaw, MI (www.midwestsalesinc.com).
“Distribution Internationals’ acquisition of Midwest Sales allows us to expand our geographic footprint, and leverage Midwest Sales’ customer relationships; all while improving their efficiencies and employee opportunities,” said Celeste Mastin, Chief Executive Officer of Distribution International.
With this acquisition, Distribution International and Midwest Sales now serve industrial, commercial and marine customers from distribution centers in Texas, Louisiana, Mississippi, Alabama, Arkansas, Tennessee, Kentucky, Missouri, Michigan, South Carolina, North Carolina, Virginia, Maryland, New York, and New Jersey in the United States, as well as British Columbia and Alberta in Canada.
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).
CapStreet targets companies with EBITDAs between $5 million and $15 million that are located in Texas and other Sunbelt states. Since founding in 1990, CapStreet has raised approximately $700 million of private equity, completed 35 portfolio company investments and completed more than 250 add-on acquisitions. The firm is based in Houston (www.capstreet.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-26-13
