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Mergers & Acquisitions

Audax Sells RelaDyne to American Industrial

By The Deal Staff
Published: January 25th, 2022
The sale of the automotive fluids distributor confirms a late November report from The Deal that the $100 million-in-Ebitda business was nearing a deal.

Audax Private Equity has sold automotive fluids distributor RelaDyne LLC to American Industrial Partners for undisclosed terms, the firm announced Thursday, Dec. 23.

The sale confirms a late November report from The Deal, noting that a Robert W. Baird & Co.-led process for the $110 million-in-Ebitda company was nearing a close. Sources told The Deal at the time the auction could yield a price tag above $1 billion.

Audax picked up RelaDyne in July 2016 from AEA Investors LP for an undisclosed sum. Audax, which invested in RelaDyne through its $2.25 billion fifth fund, added 17 businesses to the platform, most recently bolting on Chicago-based automotive lubricants supplier Enterprise Oil Co. on Oct. 14.

Stephens, which advised RelaDyne on the Enterprise Oil deal and two more of the company’s most recent bolt-ons, was co-financial adviser to the company and its PE owner on Thursday’s sale to American Industrial. Kirkland & Ellis LLP provided legal counsel to the sellers.

American Industrial tapped BMO Capital Markets Corp. for financial advice and Jones Day for legal counsel.

Editor’s note: The original version of this article was published earlier on The Deal’s premium subscription website. For access, log in to or use the form below to request a free trial.

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