American Industrial Partners (“AIP”) announced today that it has acquired RelaDyne, Inc. (“RelaDyne” or the “Company”) from Audax Private Equity (“Audax”).
RelaDyne is a leading provider of lubricants and distributor of less-than-truckload fuel, diesel exhaust fluid, chemicals, and other related products in the United States. RelaDyne is also a leading international provider of sustainability and reliability services to the commercial and industrial markets. The Company focuses on preventive maintenance, lowering total cost of ownership, decarbonization, and enhancing the sustainability and reliability of customers’ critical equipment and assets. RelaDyne serves over 25,000 customers throughout the broad industrial, commercial, and automotive end-markets.
Joel Rotroff, a Partner at AIP, said, “We are extremely excited to partner with CEO, Larry Stoddard, and the entire RelaDyne team. The Company has experienced remarkable growth since its formation in 2010, and together we will work to execute on our operating agenda and support future M&A.”
Larry Stoddard, Chief Executive Officer of RelaDyne, said, “This a great step in the continued evolution and strategy for RelaDyne. We thank Audax for their leadership over the past five years and look forward to partnering with AIP.”
Don Bramley, a Managing Director at Audax, said, “We are proud to have partnered with Larry and the rest of the RelaDyne team to help build the Company into a leading provider of lubricants and related services. Through organic growth and strategic acquisitions, the Company significantly expanded its product portfolio, service capabilities, and geographic presence over the last five years. We are thankful to the team for all their efforts and wish them well.”
BMO Capital Markets served as sole M&A advisor to AIP. Jones Day served as legal advisor to AIP. Baird served as lead M&A advisor and Stephens served as co-advisor to RelaDyne. Kirkland & Ellis served as legal advisor to RelaDyne and Audax Private Equity.
RelaDyne, headquartered in Cincinnati, Ohio, is one of the nation’s leading providers of lubricants, fuels, diesel exhaust fluid (DEF), and reliability services for industrial, commercial, and automotive businesses in the United States. RelaDyne was formed in 2010 by the combination of four well-established industry-leading companies and has since grown to more than 60 locations by strategically acquiring other industry leaders in the lubricant, fuel distribution, and industrial service segments. For more information, visit www.RelaDyne.com.
About American Industrial Partners
American Industrial Partners is an operationally oriented private equity firm that makes investments in industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, American Industrial Partners has completed more than 100 transactions and currently has $8 billion of assets under management on behalf of leading pension, endowment, and financial institutions. For more information on American Industrial Partners, visit www.americanindustrial.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 $30 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $8 billion in more than 150 platforms and over 1000 add-on companies, and is currently
investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax Private Equity seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 300 employees, Audax is a leading capital partner for North American middle market companies. For more information, visit the Audax Private Equity website: www.audaxprivateequity.com or follow us on LinkedIn.