BOSTON--(BUSINESS WIRE)--Audax Group announced that it has acquired Checkers Industrial Safety Products (“Checkers”) from Tonka Bay Equity Partners. Headquartered in Broomfield, Colorado, Checkers is a leading provider of branded industrial safety products dedicated to vehicular safety, asset protection and workplace safety. Founded in 1987, Checkers’ product offerings span four primary categories including cable management systems, wheel chocks, warning whips, and industrial signals.
Geoffrey S. Rehnert, Co-CEO of Audax Group, said “Checkers is a leading manufacturer of branded industrial safety products with an unparalleled reputation for quality and service. We look forward to partnering with Ray Torres and the rest of the Checkers team to continue growing the business organically and through strategic add-on acquisitions.”
Ray Torres, CEO of Checkers, said “We are excited to have Audax as our new partner. Their track record of sourcing and integrating add-on acquisitions will supplement our growth, and further enhance our ability to service our customers’ industrial safety needs."
BB&T Capital Markets advised Checkers. Kirkland & Ellis LLP served as counsel to Audax Group. Madison Capital Funding LLC and GMB Mezzanine provided financing for the transaction.
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston, New York and Menlo Park, Audax has over $6 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.
