Audax Group Announces the Acquisition of Nivel Holdings, LLC.BOSTON -- Audax Group announced it has completed the acquisition of Nivel Holdings, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("Nivel"). Headquartered in Jacksonville, Florida “Jacksonville” redirects here. For other uses, see Jacksonville (disambiguation). Jacksonville is the largest city in the state of Florida and the county seat of Duval County. , Nivel is one of North America's largest independent, value-added distributors of golf car aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. parts and accessories. Nivel supplies dealers worldwide with over 3,800 SKUs across 13 product categories, with 95% of orders shipped for same day delivery. William Bugg, Chief Executive Officer of Nivel, will continue to lead the management team. Geoffrey S. Rehnert, Co-CEO of Audax Group, said "Nivel is a leading independent distributor in the growing and fragmented golf car parts and accessories aftermarket. We look forward to working with Bill Bugg and his team to continue to build Nivel's position as a national distributor through product introductions and strategic add-on acquisitions." William Bugg, Chief Executive Officer of Nivel, said "We are excited to have Audax Group as our new partner. Their distribution experience coupled with their success sourcing and integrating add-on acquisitions will be a key resource for us as we expand our business domestically and abroad in this fragmented industry." Kirkland & Ellis LLP LLP - Lower Layer Protocol advised Audax Group. Harris Williams & Co. advised Nivel. American Capital Strategies, Ltd. provided debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay . 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 $3.7 billion of equity, mezzanine debt, and senior loan capital. For more information visit the Audax Group website www.audaxgroup.com |
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