Aug 2010

Audax Group Announces the Acquisition of Distribution International

Audax Group announced it has completed the acquisition of Distribution International, Inc. (“DI”) from Grey Mountain Partners. Headquartered in Houston, Texas, DI is a distributor of industrial, commercial and marine insulation and related specialty fabricated products. With 19 branch locations throughout Maryland, Virginia, North Carolina, South Carolina, Alabama, Louisiana, Mississippi and Texas, DI serves industrial, non-residential construction and marine end markets.

Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said “Distribution International has developed a leading position as a scale player in a fragmented industry with stable, long-term customer relationships. We look forward to working with the DI management team to build the company through penetration of adjacent industry verticals, global expansion, and strategic add-on acquisitions.”

*Norm Plotkin, *Chief Executive Officer of DI, said “We are excited to have Audax Group as our new partner. Their distribution experience coupled with their success sourcing and integrating add-on acquisitions will be a key resource for us as we expand our business in this fragmented industry.”

GulfStar Group, Inc. and Kirkland & Ellis LLP advised Audax Group; Proskauer Rose LLP advised Grey Mountain Partners. Piper Jaffray & Co. advised DI. GE Antares Capital provided senior debt financing and PNC Mezzanine provided mezzanine debt financing to support the transaction.