Audax Group announced it has completed the acquisition of Northern Digital, Inc. (“NDI”). Headquartered in Waterloo, Ontario, with operations in Germany and China, NDI is a developer and manufacturer of optical and electromagnetic technology for image-guided surgical, industrial test and measurement, and research applications. With over 9,000 advanced measurement systems installed worldwide, products are used for computer-assisted surgery and therapy, industrial part development and quality control, and other applications such as clinical gait analysis and sports and biomechanics research.
Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said “Northern Digital is a leading provider of technology to the growing image-guided surgical market. We look forward to working with management to drive growth at NDI by introducing new products and applications and executing strategic add-on acquisitions.”
David Crouch, President and Chief Executive Officer of NDI, said “We are excited to be working with Audax Group. Their experience working with growing middle market companies will be a valuable resource as we look to introduce new applications and penetrate new markets.”
Kirkland & Ellis LLP advised Audax Group. BMO Capital Corporation advised NDI and provided acquisition financing to support the transaction.