Audax Group Announces Sale of A-D Technologies
Audax Group announced it has completed the sale of A-D Technologies to CHS Private Equity V, a fund managed by CHS Capital. Headquartered in Knoxville, TN, and operating worldwide under the flagship Dura-Line brand, A-D Technologies is a global manufacturer and distributor of extruded HDPE duct, pipe and conduit products for telecom, power utility and infrastructure end markets.
Audax formed A-D Technologies in March 2007 through the simultaneous acquisitions and merger of ARNCO Corporation and Dura-Line Corporation. Subsequent greenfield expansions in India and Oman, coupled with the January 2011 acquisition of BoreFlex Industries, helped build the company into a global leader in the HDPE conduit market.
Geoffrey S. Rehnert, co-CEO of Audax Group, said “Paresh Chari and the A-D Technologies management team did an exceptional job working with us to build the company through a successful merger and integration, greenfield expansions, and add-on acquisition. We wish Paresh and his team continued success.”
Paresh Chari, president and CEO of A-D Technologies, said “The dedication of our talented team was critical to achieving this successful transaction. Audax Group has been an invaluable partner for us; their understanding of international operations, greenfield expansion and add-on acquisitions was key to helping us grow our business.”
Moelis & Company and Lincoln International advised A-D Technologies. Kirkland & Ellis served as counsel to Audax Group.
Audax Group, founded in 1999, is an investor in lower-middle market companies.
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