Audax Private Debt was the sole investor in a mezzanine financing supporting Incline Equity Partners’ acquisition of Jon-Don.
Headquartered in Roselle, IL, Jon-Don is a national distributor of consumables and equipment for specialty contractors in the restoration, carpet/concrete cleaning and janitorial/sanitation end markets. The company also provides value-added services such as repair, product consultation and equipment rental. Jon-Don operates through multiple distribution centers across the U.S. and caters to specialty contractors and in-house service providers.
“The Jon-Don team has done an excellent job building a national distribution platform with a leading reputation and loyal customer base,” Steve Ruby, managing director at Audax Private Debt, said. “We are excited to partner with Incline again and are confident that their experience and resources will help take Jon-Don to the next level.”
“Once again, Audax Private Debt has proven to be a trusted financing partner throughout this investment process,” John Morley, partner at Incline, said. “The Audax team operated efficiently and collaboratively to respond to our investment needs. We are confident in their ability to support our growth objectives as our partner throughout this investment.”
Audax Private Debt has invested more than $21 billion across more than 830 established middle market companies in support of more than 230 private equity sponsors. Audax Private Debt offers a range of financing solutions, including first lien, stretch senior, unitranche, second lien and subordinated debt, as well as equity co-investments.
