An Affiliate of Sun Capital Partners, Inc. Sells Dura-Line Corporation.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla. -- Sun Capital Partners, Inc., a private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that one of its affiliated portfolio companies, Dura-Line Corporation ("Dura-Line") has been sold to Audax Group, a leading private investment firm. Terms of the sale were not disclosed. Dura-Line ("Dura-Line"), headquartered in Knoxville, Tennessee “Knoxville” redirects here. For other uses, see Knoxville (disambiguation). Founded in 1786, Knoxville is the third-largest city in the state of Tennessee, behind Memphis and Nashville, and is the county seat of Knox CountyGR6. , is a leading supplier of a diversified range of high-density polyethylene high-density polyethylene n. Abbr. HDPE A strong, relatively opaque form of polyethylene having a dense structure with few side branches off the main carbon backbone. pipe, duct, and conduit products used by the telecommunications, cable television, electric power, water, and natural gas industries. Dura-Line, which has operations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , India, Mexico, and the Czech Republic Czech Republic, Czech Česká Republika (2005 est. pop. 10,241,000), republic, 29,677 sq mi (78,864 sq km), central Europe. It is bordered by Slovakia on the east, Austria on the south, Germany on the west, and Poland on the north. , offers the patented SILCORE[R] product. Major customers include Verizon, BellSouth, Tucson Electric Power Tucson Electric Power (TEP) is an electric utility company serving southern Arizona in the United States. It is a subsidiary of the UniSource Energy Corporation. Tucson Electric Park, a baseball stadium on Tucson's south side, is named for TEP. , Bharti, and Telmex. Marc J. Leder, Co-CEO of Sun Capital Partners, Inc., said, "We would like to thank the Dura-Line management team for the great contribution that they have made to the success of our leveraged buyout funds and wish them every success with Audax Group." Geoffrey S. Rehnert, Co-CEO of Audax Group, said, "Dura-Line is the leading supplier of high-density polyethylene pipe, duct, and conduit products and will benefit from the continuing rebound in its targeted markets. We look forward to working with management to expand Dura-Line's customer base and penetrate new markets." Paresh Chari, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Dura-Line Corporation, added, "We are excited to be working with Audax Group. I am confident that their experience working with middle market companies will be valuable as we build our business." About Audax Group Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Audax manages in excess of $2.4 billion in equity and mezzanine debt capital. For more information, please visit the Audax Group website at www.audaxgroup.com. About Sun Capital Partners, Inc. Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 145 companies worldwide with combined sales in excess of $33.0 billion since Sun Capital's inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Tokyo, and Shenzhen. For more information, please visit www.SunCapPart.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion