Audax Private Equity Completes the Sale of Astrodyne TDI

BOSTON, MA – November 28th, 2017 – Audax Private Equity (“Audax”), has completed the sale of Astrodyne TDI (“Astrodyne” or the “Company”) to Tinicum, L.P. and affiliated investment partnerships managed by Tinicum Incorporated (“Tinicum”).

Founded in 1994, Astrodyne is a global developer and manufacturer of specialized power solutions for demanding applications focused in the advanced medical, military, aerospace, and industrial markets worldwide. The Company’s product lines include power supplies, EMI filters, and electronic control products. Astrodyne is headquartered in Nashua, NH with over 600 employees and operations in the U.S. and China.

*Geoffrey S. Rehnert, *Co-Chief Executive Officer, Audax Group, said “The Astrodyne team transformed the business into a global developer and manufacturer with multiple complimentary product lines and abilities through organic growth and acquisition of strategic assets. We wish Jeff and his team continued success with their new partner.”

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Jeff Beck, Chief Executive Officer, **Astrodyne TDI, said “Audax has been instrumental in helping us to grow Astrodyne over the life of the partnership. Together we have successfully diversified our service offering, invested in our corporate infrastructure, and positioned the business to capitalize on continued future growth.”

Kirkland & Ellis LLP served as legal advisor to Astrodyne TDI and Audax Private Equity. Lincoln International served as financial advisor to Astrodyne TDI.