Private equity firm AIP acquires RelaDyne from Audax

New York private equity firm American Industrial Partners (AIP) has acquired RelaDyne, Inc., a leading provider of lubricants, fuels, diesel exhaust fluid (DEF) in the United States, from Audax Private Equity.

RelaDyne was formed in 2010 by the combination of four well-established industry-leading companies and has since grown to more than 60 locations by strategically acquiring other industry leaders in the lubricant, fuel distribution, and industrial service segments.

RelaDyne, which serves more than 25,000 customers throughout the broad industrial, commercial, and automotive end-markets, is headquartered in Cincinnati, Ohio, U.S.A.

“Through organic growth and strategic acquisitions, the Company significantly expanded its product portfolio, service capabilities, and geographic presence over the last five years. We are thankful to the team for all their efforts and wish them well,” said Don Bramley, a managing director at Audax Private Equity, a leading alternative investment manager with offices in Boston, New York, and San Francisco.

“This a great step in the continued evolution and strategy for RelaDyne. We thank Audax for their leadership over the past five years and look forward to partnering with AIP,” said Larry Stoddard, chief executive officer of RelaDyne.

“We are extremely excited to partner with CEO, Larry Stoddard, and the entire RelaDyne team,” said Joel Rotroff, a partner at AIP. “The company has experienced remarkable growth since its formation in 2010, and together we will work to execute on our operating agenda and support future M&A.”

BMO Capital Markets served as sole M&A advisor to Audax Private Equity while Jones Day served as legal advisor. 

Baird served as lead M&A advisor and Stephens served as co-advisor to RelaDyne. 

Kirkland & Ellis served as legal advisor to RelaDyne and Audax Private Equity.