Audax Group announced it has completed the acquisition of KODA Distribution Group (“KDG”) from KDG Enterprises Group. Headquartered in Leominster, Massachusetts, KDG is distributor of specialty chemicals through its Monson, GMZ and Ribelin operating units. KDG distributes fillers/extenders, industrial coatings, lubricants, resins, additives, and pigments to small- and medium-sized customers in the architectural coating, plastics and rubber, construction, personal care, and special purpose end markets.
Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said “KDG is a scale player in a growing and fragmented industry. They have a broad supplier base and exceptional customer support. We look forward to working with management to grow the company through penetration of adjacent industry verticals, geographic expansion and strategic add-on acquisitions.”
Bob Spadoni, Chief Executive Officer of KDG, said “We are excited to have Audax Group as our new partner. Their operational expertise coupled with a successful track record of sourcing and integrating add-on acquisitions will be valuable assets as we take our business to the next level.”
Ropes & Gray LLP served as counsel to Audax Group. Sperry, Mitchell & Company advised KDG. TD Bank provided senior debt financing and Garmark Partners and Sankaty Advisors provided mezzanine debt financing to support the transaction.
