Sep 2014

Audax Group Announces the Sale of Tri-Ed

Boston, MA- Audax Group has completed the sale of Tri-Ed Distribution (“Tri-Ed”) to Anixter International (NYSE: AXE), a global distributor of enterprise cabling and security solutions, electrical and electronic wire and cable, and OEM supply fasteners and other small parts. Headquartered in Woodbury, New York, Tri-Ed is the leading North American independent distributor of security, data communications, and low-voltage technology products.

Through its 61 regional branches and two technical service centers, Tri-Ed serves a customer base of over 20,000 dealers and security integrators. Since Audax’ initial investment in Tri-Ed in 2012, revenue has grown from $400 million to $580 million. The company accelerated organic growth and increased relative market share through the opening of eight greenfield locations, improved same store sales growth, and national account penetration with dealers and integrators. In addition, Tri-Ed completed four add-on acquisitions under Audax’ ownership, expanding the company into new end markets and geographies.

*Geoffrey S. Rehnert, *Co-Chief Executive Officer, Audax Group, said: “Pat and the Tri-Ed team have done an exceptional job growing the company organically and through four acquisitions to build upon Tri-Ed’s position as the clear, independent leader in the industry. We wish Tri-Ed continued success on the next leg of growth with its new partner.”

Pat Comunale, CEO, Tri-Ed, said: “Audax Group’s expertise in helping us execute our buy and build strategy was essential for improving Tri-Ed’s market position and expanding our end market and geographic presence.”

BlackArch Partners and Imperial Capital advised Tri-Ed. Kirkland & Ellis served as legal counsel to Tri-Ed.


About Tri-Ed:

Tri-Ed is North America’s largest independent security distributor. Tri-Ed serves all four major segments of the security market including video, access control, intrusion detection and fire/life safety, and provides approximately 110,000 products to a fragmented base of over 20,000 active dealer and security integrator customers. Headquartered in Woodbury, NY, Tri-Ed employs over 600 people across 63 locations in the US and Canada.