Audax Group announced it has completed the acquisition of Elgin Fastener Group, LLC (“EFG”). Headquartered in Versailles, Indiana, EFG is a manufacturer of short-run, high-quality specialty fasteners for a diverse range of niche industrial end markets. EFG manufactures cold-headed, long-length, small diameter fasteners; cold formed, close tolerance, high precision threaded fasteners; and semi-standard specialty fasteners through its Ohio Rod Products, Chandler Products, and Leland Powell Fasteners divisions, respectively.
*Geoffrey S. Rehnert, *Co-Chief Executive Officer, Audax Group, said “EFG is a niche manufacturer of high-quality specialty products in a fragmented industry with longstanding customer relationships. We look forward to working with Jeff Liter and his management team to build the company through product introductions, expanding into related markets, and strategic add-on acquisitions.”
Jeff Liter, President of EFG, said “We are excited to have Audax Group as our new partner. We now have the additional capital and resources for our next stage of growth. Their operational expertise and successful track record sourcing and integrating add-on acquisitions will be key assets as we continue to build our company.”
Lincoln International advised EFG. Kirkland & Ellis LLP served as counsel to Audax Group. Madison Capital Funding provided debt financing to support the transaction.
