Boston private equity firm Audax Group has acquired Chase Industries Inc. from Sentinel Capital Partners, in yet another building products deal.
Chase, headquartered in Cincinnati, manufactures and distributes customized doors, including traffic, corrosion resistant, PVC, strip, cold storage, fire and sliding doors. The company's products are sold under the Chase, Chem-Pruf, ColdGuard, Econo Max, Eliason, Fib-R-Dor, Saino and Simon brands. The deal was announced late Sept. 17.
Audax plans to grow the company organically and through add-on acquisitions, according to co-CEO Geoffrey Rehnart. The firm recently acquired Wheel Pros, in July, and display company Luminator Technology Group LLC in April.
Sentinel Capital is a New York private equity firm that has about $2.6 billion in capital under management. The firm's recent investments include PlayCore, which makes recreation products, including playgrounds, and TGI Fridays, which the firm invested in in partnership with TriArtisan Capital Partners.
Houlihan Lokey and Kirkland & Ellis LLP advised Chase on the deal. Ropes & Gray LLP and Fredrikson & Byron PA advised Audax. Golub Capital provided financing for the deal.
Dealmakers have been churning out transactions for building products companies. Announced Sept. 18, Spectrum Brands Holdings Inc. (NYSE: SPB) acquired Tell Manufacturing Inc. Before that, Ridgemont Equity Partners made a majority investment in the Cook & Boardman Group.