HOUSTON--(BUSINESS WIRE)--Distribution International ("DI") has acquired Midwest Sales, Inc. (“MSI”). Headquartered in Saginaw, Michigan, MSI is a leading distributor of industrial and commercial insulation.
DI, based in Houston, Texas, is a portfolio company of Audax Private Equity (“Audax”) and The CapStreet Group (“CapStreet”). The company is a value added distributor of insulation, related specialty fabricated products, and safety supplies to the industrial, commercial, and marine end markets. Together, DI and MSI serve industrial, commercial and marine customers from distribution centers in Texas, Louisiana, Mississippi, Alabama, Arkansas, Tennessee, Kentucky, Missouri, Michigan, South Carolina, North Carolina, Virginia, Maryland, New York, and New Jersey in the United States, as well as British Columbia and Alberta in Canada.
Robert Bordeaux, Chief Executive Officer and Founder of MSI, said "This acquisition is a positive outcome for our employees and customers. Being a part of DI allows us to leverage their relationships to expand our product offerings, and geographic footprint. We look forward to being a part of the DI team.”
Celeste Mastin, Chief Executive Officer of DI, said "DI’s acquisition of MSI allows DI to expand our geographic footprint, and leverage MSI’s customer relationships; all while improving their efficiencies and employee opportunities.”
Fredrikson & Byron P.A. served as legal counsel to Audax and CapStreet.
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston and New York, Audax has over $5 billion in assets under management in its Private Equity, Mezzanine, and Senior Debt businesses. For more information visit the Audax Group website www.audaxgroup.com.
ABOUT THE CAPSTREET GROUP
The CapStreet Group, founded in 1990, focuses on investments in lower middle market, privately-held businesses headquartered in Texas and other Sunbelt states. Since inception, the firm has raised approximately $700 million of private equity capital. For more information visit The CapStreet Group website www.capstreet.com.
