Daily News: September 22, 2014

BlackArch Advises Audax Group on Tri-Ed Sale

BlackArch Partners announced the sale of Tri-Northern Acquisition Holdings, a portfolio company of Audax Group, to Anixter for a purchase price of $420 million, subject to working capital, escrow and other customary adjustments.

BlackArch was retained by Tri-Ed’s management team and financial sponsor, Audax Group, to serve as the primary financial advisor on the transaction. Tri-Ed marks the eleventh recent distribution transaction for BlackArch, and the third distribution client exit to a strategic acquiror in 2014. Tri-Ed’s core end market also represents BlackArch’s latest advisory role to companies supplying products or services in converging technology markets, including security, home automation, commercial building controls and data connectivity.

Pat Comunale, Tri-Ed’s CEO commented, “This was our third transaction at Tri-Ed, and BlackArch’s execution was exceptional in every way – in their articulation of what differentiates Tri-Ed as a company, in the way they approached buyers and the audience they generated for us, and in their relentless desire to help my team land with an exciting new partner.”

Woodbury, NY- headquartered Tri-Ed is an independent security distributor.

Audax Group is an investor in lower-middle market companies.