Audax Private Equity completes acquisition of EIS
Audax Private Equity (Audax) has completed its acquisition of EIS, a distributor, fabricator, and converter of electrical process materials, wire, cable and assemblies serving end-user segments in electrical power and related markets.
EIS provides more than 100,000 products from 38 branches and four fabrication facilities to more than 20,000 customers across North America.
Larry Griffin, CEO of EIS, says: “We are excited to partner with Audax as we embark on our next phase of growth. Our independent structure will allow us to devote renewed energy on better serving our core end markets as we look to expand both organically and through strategic acquisitions. Audax provides expertise, resources, and valued experience in the distribution industry that will help us achieve these objectives to the benefit of our core constituents of suppliers, customers, and employees.”
Don Bramley, Managing Director, Audax Group, said, "We believe EIS is a quality organisation with an experienced management team, loyal customer base, strong partnerships and a proven M&A platform that will complement our portfolio of industry leading companies. Audax will seek to provide the expertise and resources to support the EIS leadership team as it continues to broaden its customer base, pursue strategic acquisitions, and enhance service and support programs for the benefit of all EIS stakeholders.”
Kirkland & Ellis LLP served as legal counsel to Audax.