Audax Private Equity (Audax) has completed the sale of Integrated Supply Network “(SN) to Freeman Spogli & Co (Freeman Spogli), a private equity firm based in Los Angeles, California, in conjunction with management and other investors.
Terms of the transaction have not been disclosed.
Headquartered in Lakeland, Florida, ISN is an independent distributor of tools and equipment sold into the aftermarket automotive repair industry. Since Audax’ initial investment in ISN in 2011, the Company completed eight acquisitions, expanding ISN into new geographies, including Canada and the United Kingdom, new sales channels and end-markets, and adjacent product categories.
Geoffrey S Rehnert, Co-CEO of Audax, says: “Bruce Weber and the rest of the ISN team have done an exceptional job growing the Company organically and through add-on acquisitions, all while executing best-in-class distribution and customer service. We wish the ISN team continued success as they embark on the next chapter of grwth with Freeman Spogli.”
Bruce Weber, CEO of ISN, says: “Audax’ expertise in helping us execute our buy and build strategy was essential for expanding ISN’s geographic presence, sales channels, and product categories. We’re excited to retain their expertise and experience through a minority equity position alongside Freeman Spogli going forward.”
BlackArch Partners and BB&T Capital Markets advised ISN. Kirkland & Ellis LLP served as legal counsel to ISN.
