Audax Group announced it has completed the acquisition of Elgin Fastener Group LLC, a Versailles, Ind., manufacturer of specialty fasteners for a diverse range of niche industrial end markets.
EFG manufactures cold-headed, long-length, small diameter fasteners; cold formed, close tolerance, high precision threaded fasteners; and semi-standard specialty fasteners through its Ohio Rod Products, Chandler Products, and Leland Powell Fasteners divisions.
"EFG is a niche manufacturer of high-quality specialty products in a fragmented industry with longstanding customer relationships. We look forward to working with Jeff Liter and his management team to build the company through product introductions, expanding into related markets, and strategic add-on acquisitions," said Geoffrey S. Rehnert, Co-CEO of Audax Group.
Audax Group is a private equity investor in lower-middle market companies. With offices in Boston and New York, Audax manages in excess of $4.8 billion of equity, mezzanine debt, and senior loan capital. Its investment portfolio includes Lewis-Goetz and Company, a Pittsburgh-based hose, belting and sealing distributor.