Audax Private Equity has acquired promotional products distributor Halo Branded Solutions. The PE firms has partnered with management on the deal.
Halo, based in Sterling, Illinois, distributes promotional products (known as “schwag” in the public relations community), such as towels, candy boxes and t-shirts. Some of its clients include Ace Hardware, the National Hockey League’s Columbus Blue Jackets and the Wendy's Co. (Nasdaq: WEN). “We are impressed with Halo’s leadership position in an industry that is positioned for strong growth,” says Audax co-Ceo Geoffrey Rehnert.
Audax won Mergers & Acquisitions’ 2015 M&A Mid-Market Award for Private Equity Firm of the Year. While activity in the overall middle market slowed down in 2015, Audax raised its fifth fund, closed 100-plus investments (including 12 platform acquisitions and 91 add-on deals) and sold more portfolio companies than most of its competitors.
Audax has been busy making deals lately. ICP, which is backed by the PE firm, acquired adhesives maker Fomo Products Inc., and Winchester Electronics, another Audax portfolio company, purchased SRI Connector Gage.