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FDH Acquires BTC Electronic Components

EL SEGUNDO, Calif.–(BUSINESS WIRE)–FDH, a portfolio company of Audax Private Equity (“Audax”), announced today that it has acquired BTC Electronic Components (“BTC”), a Wake Forest, NC based specialty distributor of high-performance connectors and accessories focused on aerospace, military and industrial end markets. BTC provides a complimentary product offering to FDH’s and further expands the business into the electronic connectors space.

Scott Tucker, CEO of FDH, said “Paul and the BTC team have built an outstanding business, on a foundation started and nurtured over 32 years by Bob Barnett, and we are excited for them to join the FDH family. Their strong OEM business provides a strong position in the electrical connectors space.”

Paul Moseley, CEO of BTC, said “This partnership with FDH represents the next step in the BTC journey. By leveraging our combined resources, we will look to meaningfully accelerate the growth of our business while continuing to provide high quality service to our customers.”

Bob Barnett, Founder, said “I am very pleased that Paul and the BTC family are joining FDH and believe that the combined businesses will bring greater value to our customers, suppliers and associates.”

BTC is FDH’s sixth acquisition, and fourth completed since Audax invested in the company in 2017.

ABOUT FDH

FDH is a leading distributor of c-class hardware and replacement parts to commercial and defense aircraft manufacturers, subcontractors, component distributors, and MRO/aftermarket solution providers. FDH is headquartered in El Segundo, CA and has operations across North America, Europe and Asia. For more information, please visit www.fdhaero.com.

ABOUT AUDAX PRIVATE EQUITY

Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $26 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $5 billion in more than 130 platforms and 800 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website www.audaxgroup.com.

Contacts

Scott Tucker, CEO, FDH
310-773-7071

News

FDH Acquires Aerospheres UK Ltd.

EL SEGUNDO, Calif. & OKLAHOMA CITY–(BUSINESS WIRE)–FDH, a portfolio company of Audax Private Equity (“Audax”), announced today that it has acquired Aerospheres UK Ltd. (“Aerospheres”) from Acorn Growth Companies (“Acorn”). Based in Harrow, U.K., Aerospheres is a value-added distributor of aerospace aftermarket chemicals, composites and other consumable materials for maintenance applications and MRO service providers. Aerospheres broadens FDH’s aftermarket presence into the chemicals space and expands FDH’s international footprint, servicing 85 countries.

“Aerospheres is a leader in the aftermarket chemicals and consumables space. We’re thrilled to work with Paul and his team to expand our aftermarket product offering globally,” said Scott Tucker, CEO of FDH.

“We are excited to be joining Scott and the FDH team as we continue to grow our combined business,” commented Paul Thompson, CEO of Aerospheres. “Through this partnership, we plan to accelerate our growth trajectory while continuing to provide the same exceptional levels of service to our customers.”

Aerospheres is FDH’s fifth acquisition, and the third completed since Audax invested in the company in 2017.

ABOUT FDH

FDH is a leading distributor of c-class hardware and replacement parts to commercial and defense aircraft manufacturers, subcontractors, component distributors, and MRO/aftermarket solution providers. FDH is headquartered in El Segundo, CA and has operations across North America, Europe and Asia. For more information, please visit www.fdhaero.com.

ABOUT AUDAX PRIVATE EQUITY

Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $26 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $5 billion in more than 130 platforms and 800 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 240 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website www.audaxgroup.com.

ABOUT ACORN

Acorn Growth Companies is a middle market private equity firm focused exclusively on Aerospace, Defense and Intelligence. Acorn invests solely in operating companies that strive to enhance global mobility and protect national interests. Acorn has a formidable reputation in the industry and is recognized for its deep understanding of the Aerospace & Defense markets, with proprietary access to the best companies within these sectors. With operational expertise and the ability to lead and manage investments through variable economic and industry cycles, Acorn works in tandem with management to build its portfolio companies into significant market leaders. AcornGrowthCompanies.com

Contacts

FDH Contact:
Scott Tucker, CEO, FDH
310-773-7071

Acorn Contact:
Brandon Bradford, Partner, Acorn Growth Companies
917-224-8399

News

Audax-backed FDH Acquires PDQ Airspares

ARLINGTON, Texas–(BUSINESS WIRE)–Fastener Distribution Holdings, a portfolio company of Audax Private Equity, announced it has acquired PDQ Airspares, a Fordingbridge, U.K.-based distributor of aerospace consumables and provider of supply chain management services to MRO and airline customers. PDQ broadens FDH’s aftermarket presence and expands FDH’s international operating footprint through its facilities in the U.K., Poland, Singapore, and China.

Scott Tucker, CEO of FDH, said, “PDQ is a clear leader in the MRO and consumables distribution space with an excellent reputation and leadership team. The acquisition contributes to our focus on driving growth both organically and through strategic acquisitions.”

Nic Lewis, CEO of PDQ, said, “We are excited to join Scott and the FDH team as we continue to grow our combined businesses. We continue to be committed to delivering the same high level of service and consistency that our customers expect.”

PDQ is FDH’s fourth acquisition, and second completed since Audax Private Equity invested in the company in 2017.

ABOUT FDH

FDH is a leading distributor of c-class hardware and replacement parts to commercial and defense aircraft manufacturers, subcontractors, and component distributors through three divisions: Arlington International Aviation Products, based in Arlington, Texas, and Aircraft Fasteners International and Blue Sky Industries based in Monterey Park, California. For more information, please visit www.aiapinc.comwww.aircraftfast.comwww.blueskyindustries.com.

ABOUT AUDAX PRIVATE EQUITY

Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Audax has invested over $5 billion in 117 platform and 706 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value.

News

Audax Private Equity Announces the Acquisition of Fastener Distribution Holdings

BOSTON–(BUSINESS WIRE)–Audax Private Equity (“Audax”) announced it has partnered with management to acquire Fastener Distribution Holdings, LLC (“FDH”) from Housatonic Partners. Terms of the transaction were not disclosed.

FDH, headquartered in Marina del Rey, CA, is a leading distributor of aerospace fasteners and other c-class components to commercial and defense aircraft manufacturers, subcontractors, and component distributors through its Arlington International Aviation Products (“AIAP”) and Aircraft Fasteners International (“AFI”) divisions.

Geoffrey Rehnert, Co-CEO of Audax, said, “FDH is a highly regarded leader in the fragmented aerospace c-class components distribution market. We are excited to partner with Scott Tucker, Bill Ganss, Rick Ferguson, and the entire FDH team to continue building a leading platform through organic growth and add-on acquisitions.”

Scott Tucker, CEO of FDH, said, “The FDH team is thrilled to be partnering with Audax to accelerate our growth. Audax brings expertise and resources that will help us grow through strategic acquisitions while continuing to provide the outstanding service our customers have come to expect.”

Harris Williams & Co. served as financial advisor and Foley & Lardner, LLP served as counsel to FDH. Kirkland & Ellis, LLP served as counsel to Audax.

ABOUT AUDAX PRIVATE EQUITY
Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Audax has invested $4 billion in 103 platform and 554 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. Audax Private Equity is an integral part of Audax Group, an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and Menlo Park, Audax Group has over $11 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses. For more information, visit the Audax Group website, www.audaxgroup.com.

Contacts

Audax Group
Geoffrey Rehnert, 617-859-1503
Co-Chief Executive Officer
or
Fastener Distribution Holdings
Scott Tucker, 310-821-5582
President & CEO

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