News

March 23, 2011

Audax Group and Moelis Capital Partners Announce the Acquisition of Quest Specialty Chemicals

Audax Group and Moelis Capital Partners, the private equity business of Moelis & Company, announced they have completed the acquisition of Quest Specialty Chemicals, Inc. (“Quest”). Headquartered in Menomonee Falls, Wisconsin, Quest is a specialty chemical coatings manufacturer operating under the Matrix Systems, RAABE, Foxcolor, Zolatone, Hydro-Stop, and United Coatings brand names. Quest formulates and manufactures paint for automotive and touch-up applications, and high-performance coatings for architectural, industrial, and roofing applications.
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Geoffrey S. Rehnert**, Co-Chief Executive Officer, Audax Group, said “Quest is a diversified specialty chemical manufacturer with a leading position as a scale player within its niches. In conjunction with Moelis Capital Partners, we look forward to working with Fred Quinn, Gerry Loftus, and the rest of the management team to continue to build the company through sales force investment, penetrating new end markets, and strategic add-on acquisitions.”

*Kurt Larsen, *Managing Partner of Moelis Capital Partners, said, “We look forward to working with Audax and a management team that averages more than 30 years of experience and has achieved great success in the past that will benefit Quest in its future growth strategy.”

Fred Quinn, Chairman and CEO of Quest, said “Audax Group and Moelis are ideal partners as we embark on our next stage of growth. Their success at sourcing and integrating add-on acquisitions,coupled with their operational expertise, will be key resources as we continue to build Quest into a national player within the specialty coatings industry.”

Gerry Loftus, President and COO of Quest, said “This transaction positions Quest to build on our past success. Through partnership with Audax and Moelis, Quest will further expand into new end markets and verticals, providing our customers with a broader product offering and improved value proposition.”

Moelis & Company acted as advisors to the buyers. UBS Investment Bank advised Quest; Honigman, Miller, Schwartz & Cohn served as counsel to Quest. Kirkland & Ellis, LLP served as counsel to Audax Group and Parr Brown Gee & Loveless served as counsel to Moelis Capital Partners. GE Antares

Capital and BMO Capital Markets led the senior debt financing and Oaktree Capital led the mezzanine financing to support the transaction.

About

About Moelis Capital Partners
Moelis Capital Partners is a middle market private equity firm founded in 2007 in connection with the formation of Moelis & Company, a global investment bank. Moelis Capital Partners manages over $700million of committed private equity capital and specializes in traditional private equity investments in the middle market. For more information, please visit www.moeliscapital.com.

Contacts
Moelis & Company
Andrea Hurst
Head of Marketing & Communications
(212) 883-3666
Audax Group
Geoffrey Rehnert
Co-CEO
(617) 859-1503

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