Audax invests in junior debt and equity securities of private equity-owned middle market companies. We invest in a variety of industries and seek companies with the following characteristics:
- Established and sustainable value proposition
- Leading and defensible market position
- Revenue and cash flow stability
- Proven and experienced management teams
- Strong equity sponsorship
We invest in traditional mezzanine securities as well as unitranche financings. We also seek to co-invest equity together with our sponsor partners. Below are our target investment sizes:
- Mezzanine: Up to $100 million
- Unitranche: Up to $150 million
- Senior Debt: Up to $75 million (via Audax Senior Debt platform)
Audax Mezzanine seeks to add value to portfolio companies in many ways beyond the initial financing. Following a transaction, we maintain an ongoing dialogue with ownership and management and can support add-on acquisitions with incremental financing. In addition, Audax Mezzanine takes a collaborative, solutions-seeking approach when faced with a downturn in a portfolio company’s financial results.
View the Audax Mezzanine portfolio.
Audax Mezzanine will invest in a variety of different transaction types, including:
- Leveraged and management buyouts: We partner with leading equity sponsors and management teams to capitalize leveraged buyout or management buyout investment opportunities.
- Acquisition financings: We partner with leading middle market companies pursuing strategic acquisitions.
- Recapitalization and refinancings: We invest in middle market businesses that are effecting a recapitalization or are refinancing existing debt.