HOUSTON--(BUSINESS WIRE)--Distribution International, Inc. (“DI”) announced it has completed the acquisition of Mechanical Insulation Supply, Inc. (“Mechanical Insulation”) in Redford, MI. Mechanical Insulation, established in 1989, is a distributor of mechanical and industrial insulation and accessories, HVAC products, and refractory products and accessories. DI, based in Houston, Texas, is a portfolio company of Audax Private Equity (“Audax”) and The CapStreet Group (“CapStreet”).
Doug Waugaman, CFO of DI said, “We are pleased to grow our existing distribution network in the Midwest market. We look forward to servicing the Mechanical Insulation customer base and will continue the tradition of integrity, responsiveness, and professionalism they have developed.”
Mike Kraydich Sr, President of Mechanical Insulation said, “DI has been a well-respected competitor in our market. Based on DI’s outstanding commitment to customer service and product quality, they were a natural choice for our business. We will be able to continue our commitment to providing reliable solutions and delivering the highest quality products and services to our customers.”
DI is a value added distributor of insulation, related specialty fabricated products, and safety supplies. DI serves industrial, commercial and marine customers from distribution centers in Alabama, Arizona, Arkansas, California, Kentucky, Louisiana, Maryland, Michigan, Mississippi, Missouri, Nevada, New Jersey, New Mexico, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, and Virginia in the United States, as well as British Columbia, Alberta, Ontario, Quebec, and Nova Scotia in Canada.
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 $5.5 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 is a private equity firm that invests in owner-managed, lower middle market companies headquartered in Texas and surrounding states, with a particular emphasis on companies headquartered in the greater Houston area. CapStreet targets companies operating in the industrial distribution, industrial manufacturing and business service sectors and partners with management to accelerate growth and improve profitability. For more information, visit The CapStreet Group website www.capstreet.com.
Fredrikson & Byron P.A. served as legal counsel to Audax and CapStreet.