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Distribution International, Inc., Houston, TX, has been acquired by Audax Group, Boston, MA. Audax purchased the distributor of insulation and related specialty products from private equity firm Grey Mountain Partners, Boulder, CO, which acquired Distribution International in 2006.
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With 19 branch locations in Maryland, Virginia, North Carolina, South Carolina, Alabama, Louisiana, Mississippi and Texas, DI serves industrial, non-residential construction and marine end markets.
"Distribution International has developed a leading position as a scale player in a fragmented industry with stable, long-term customer relationships," said Geoffrey S. Rehnert, co-CEO of Audax Group. "We look forward to working with the DI management team to build the company through penetration of adjacent industry verticals, global expansion, and strategic add-on acquisitions."
Audax Group is an investor in small cap and lower-middle market companies, managing more than $4.3 billion of equity, mezzanine debt, and senior loan capital.