FDH Acquires BTC Electronic Components
EL SEGUNDO, Calif.--(BUSINESS WIRE)--Dec 18, 2019--
FDH, a portfolio company of Audax Private Equity (“Audax”), announced today that it has acquired BTC Electronic Components (“BTC”), a Wake Forest, NC based specialty distributor of high-performance connectors and accessories focused on aerospace, military and industrial end markets. BTC provides a complimentary product offering to FDH’s and further expands the business into the electronic connectors space.
Scott Tucker, CEO of FDH, said “Paul and the BTC team have built an outstanding business, on a foundation started and nurtured over 32 years by Bob Barnett, and we are excited for them to join the FDH family. Their strong OEM business provides a strong position in the electrical connectors space.”
Paul Moseley, CEO of BTC, said “This partnership with FDH represents the next step in the BTC journey. By leveraging our combined resources, we will look to meaningfully accelerate the growth of our business while continuing to provide high quality service to our customers.”
Bob Barnett, Founder, said “I am very pleased that Paul and the BTC family are joining FDH and believe that the combined businesses will bring greater value to our customers, suppliers and associates.”
BTC is FDH’s sixth acquisition, and fourth completed since Audax invested in the company in 2017.
FDH is a leading distributor of c-class hardware and replacement parts to commercial and defense aircraft manufacturers, subcontractors, component distributors, and MRO/aftermarket solution providers. FDH is headquartered in El Segundo, CA and has operations across North America, Europe and Asia. For more information, please visit www.fdhaero.com.
ABOUT AUDAX PRIVATE EQUITY
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $26 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $5 billion in more than 130 platforms and 800 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website www.audaxgroup.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191218005169/en/
CONTACT: Scott Tucker, CEO, FDH
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: DEFENSE OTHER DEFENSE OTHER MANUFACTURING CHEMICALS/PLASTICS AIR AEROSPACE TRANSPORT MANUFACTURING
SOURCE: Fastener Distribution Holdings
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PUB: 12/18/2019 08:00 AM/DISC: 12/18/2019 08:00 AM