Firm: Audax Group
Fund: Audax Private Equity Fund IV LP
Target: Approximately $1 billion
Status: On hold until early 2010
The slow deal-making market will likely force buyout and mezzanine investor
Terms of the firm’s current buyout vehicle,
Although a target for Fund IV has not yet been finalized, Rehnert said a likely goal for the pending vehicle will be to match Fund III’s capitalization of $1 billion.
According to Audax Group’s Web site, the firm’s most recent buyout activity was its June acquisition of the U.S. and Mexico guarding operations of Garda World Security Corp., a provider of uniformed security, consulting and investigation services.
Though fundraising appears to be on hold for Audax Group’s next buyout fund, the firm’s sub-debt group is moving forward with its next mezzanine vehicle. Audax Mezzanine plans to hold a first close on its $750 million-targeted
Audax Group invests in small cap and lower-middle market companies across a wide range of industries, including security services, industrial manufacturing and business intelligence software. Transactions include leveraged buyouts and recapitalizations, corporate divestitures spin-offs and roll-outs. Audax Group invests equity of $10 million to $100 million in transactions valued between $15 million and $250 million. The firm has more than 95 investment professionals in Boston, New York and China.
Audax Group’s first buyout fund,