Audax Group announced it has completed the sale of A-D Technologies (“A-D Technologies”) to CHS Private Equity V LP, a fund managed by CHS Capital TM.Headquartered in Knoxville, Tennessee, and operating worldwide under the flagship Dura-Line brand, A-
D Technologies is a leading global manufacturer and distributor of extruded HDPE duct, pipe, and conduit products for telecom, power utility, and infrastructure end markets. Audax formed A-D Technologies in March 2007 through the simultaneous acquisitions and merger of ARNCO Corporation and Dura-Line Corporation. Subsequent greenfield expansions in India and Oman, coupled with the January 2011 acquisition of Bore Flex Industries, helped build the company into a global leader in the HDPE conduit market.
Geoffrey S. Rehnert**, Co-Chief Executive Officer, Audax Group, said “Paresh Chari and the A-D Technologies management team did an exceptional job working with us to build the company through a successful merger and integration, greenfield expansions, and an add-on acquisition. We wish Paresh and his team continued success.”
Paresh Chari, President and CEO of A-D Technologies, said “The dedication of our talented team was critical to achieving this successful transaction. Audax Group has been an invaluable partner for us; their understanding of international operations, greenfield expansion and add-on acquisitions was key to helping us grow our business.”
Moelis & Company LLC and Lincoln International LLC advised A-D Technologies. Kirkland & Ellis LLP served as counsel to Audax Group.