Audax Private Equity (Audax), in partnership with management, has completed the sale of HALO Branded Solutions to TPG Growth, the middle market and growth equity platform of global alternative asset firm TPG, and HALO management.
Headquartered in Sterling, Illinois, HALO partners with more than 60,000 clients across North America to provide creative solutions. The company operates across two business lines: HALO Branded Solutions, one of the world’s largest distributors of promotional products; and HALO Recognition, which designs and administers employee incentive and rewards programs for enterprise customers. Known for its industry-leading customer service, HALO has a nationwide salesforce of more than 1,200 dedicated account executives who provide clients with creative, consultative marketing and recognition solutions. They are supported by a team of more than 500 corporate service professionals.
Geoffrey S Rehnert, Co-Chief Executive Officer, Audax Group, says: “The HALO team transformed the business from a leader in promotional products distribution into a provider of comprehensive branded solutions across promotional products and employee recognition by adding new products and solutions, expanding the geographical footprint, and increasing scale through organic growth and strategic acquisitions. We wish Marc and his team continued success with their new partner.”
Marc Simon, Chief Executive Officer, HALO Branded Solutions, says: “Audax has been instrumental in helping us to grow HALO over the last two years. Together we have successfully expanded into the employee recognition space and solidified our position as a leader within promotional products distribution. The Company is well positioned to continue on our organic and acquisition growth trajectory and to continue to provide our clients with innovative, customised solutions that showcase their brand and values. We look forward to the next phase of HALO’s growth.”
Kirkland & Ellis LLP served as legal advisor to HALO and Audax Private Equity. William Blair & Company, LLC and Lincoln International served as financial advisors to HALO. Ropes & Gray LLP served as legal advisor to TPG Growth and Antares Capital LP, SunTrust Bank, Citizens Financial Group, and KKR Financial provided financing.
