While activity in the overall middle market slowed down in 2015, Audax Private Equity soared ahead, raising its fifth fund, closing 100-plus investments (including 12 platform acquisitions and 91 add-on deals) and selling more portfolio companies than most of its competitors.

In September, Audax achieved a rare milestone in the middle market, when it completed the firm’s 500th transaction, a small add-on deal made by portfolio company Advanced Dermatology & Cosmetic Surgery (ADCS). The addition of Dermatology of Northern Colorado marked the thirty-first acquisition ADCS has made since the PE division of Audax Group bought the physician group in 2011.

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