Audax Group Announces Sale of Dynisco.BOSTON -- Audax Group ("Audax") announced it has completed the sale of Dynisco to Roper Industries, Inc. (NYSE NYSE See: New York Stock Exchange :ROP (1) (Raster Operation) An instruction that manipulates the bits of a bitmapped image in some manner. (2) (RISC Operation) An instruction in a RISC processor. ). Dynisco designs and manufactures highly engineered sensors and software used in testing, measurement, and control applications. Audax acquired the company in July 2004 and subsequently purchased Alpha Technologies and Viatran Corporation, which expanded the company's product line and end-markets. The combined companies gained Asian and European manufacturing capabilities with facilities in Malaysia and the United Kingdom, complementing existing 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. and Germany. In March 2006, Dynisco divested its non-core extrusion business, becoming a pure-play test and measurement company. Geoffrey S. Rehnert, Co-CEO of Audax Group, said "The Dynisco management team did a terrific job working with us to successfully source and integrate multiple acquisitions and build the company into a global leader within its end markets. We wish Larry Klumpp and his team much success." Larry C. Klumpp, President and 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 Dynisco, said "This is a very positive outcome for our company. The combined effort of our management team and employees was critical in achieving this successful transaction. Audax Group was a great resource for us; their experience sourcing and integrating add-on acquisitions on a global scale was key to helping us build our business." Kirkland & Ellis LLP LLP - Lower Layer Protocol advised Audax. Harris Williams & Co. represented Dynisco. 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 visit the Audax Group website http://www.audaxgroup.com |
|
|||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion