Apr 2012

Audax Group Announces the Acquisition of Tri-Northern Holdings

Audax Group announced it has completed the acquisition of Tri-Northern Holdings, Inc. (“Tri-Northern”). Headquartered in Woodbury, New York, Tri -Northern is a leading independent distributor of low-voltage electronic security products including video, intrusion, access/fire,and other ancillary products. With 47 locations across the United States and Canada, Tri-Northern serves both commercial and residential markets through its Tri-Ed and Northern Video Distribution business units.

*Geoffrey S. Rehnert, *Co-Chief Executive Officer, Audax Group, said “Tri-Northern is a leading distributor of electronic security products with a best-in-class distribution model and an industry-leading management team. We look forward to working with Steve Roth, Pat Comunale and their team to build the company through add-on acquisitions, greenfield expansion, and building out the organization.”

Steve Roth, Chairman of Tri-Northern, said “We are excited to have Audax Group as our new partner. Their success sourcing and integrating add-on acquisitions along with their distribution experience will be key resources for us as we continue to build Tri-Northern into a national player in the electronic security industry.”

*Pat Comunale, *President and CEO of Tri-Northern, said “This transaction positions Tri-Northern to build on our past success. Audax Group’s proven track record building middle market distributors into national leaders will be a great asset as we embark on our next stage of growth within this fragmented industry.”

Harris Williams & Co. advised Tri-Northern. Kirkland & Ellis LLP served as counsel to Audax Group. Bank of America provided senior debt financing and funds managed by Oaktree Capital Management, L.P .provided junior debt financing to support the transaction.