BOSTON--(BUSINESS WIRE)--Audax Private Equity, has completed the sale of RESA Power, LLC to Blue Sea Capital, a private equity firm based in West Palm Beach, FL.
Founded in 2003, RESA Power is a leading provider of electrical life extension products and services to a broad variety of end markets. The Company specializes in servicing major power distribution & control markets, and stocking obsolete & hard-to-find inventory. Under Audax’ ownership, RESA has successfully completed nine add-on acquisitions, expanding the Company’s footprint across the United States and into Canada, and bolstering its existing capabilities with complementary product and service offerings. RESA is headquartered in Houston, Texas with ~250 employees company-wide.
Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said “We congratulate Brian McSharry and his team on an excellent job transforming the company through add-on acquisitions and organic growth. We wish Brian and the RESA management team continued success with their new partner.”
Brian McSharry, Chief Executive Officer, RESA Power, said “We are delighted to partner with Blue Sea Capital for this next phase of our strategy to become the national service provider of choice within our chosen market sectors. The team at Blue Sea Capital shares our strategic vision of geographic expansion organically and via acquisition. Sincere thanks to Audax for their support over the years and their pivotal role in the Company’s growth and success.”
Goulston & Storrs LLP served as legal advisor to RESA Power and Audax Private Equity. Jones Day LLP served as legal advisor to Blue Sea Capital. Lincoln International served as financial advisor to RESA Power. Barings and MetLife provided financing for the transaction.
ABOUT AUDAX PRIVATE EQUITY
Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Audax has invested $4 billion in 108 platform and 628 add-on companies. 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. Audax Private Equity is an integral part of Audax Group, an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and San Francisco, Audax Group has $11.5 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses. For more information, visit the Audax Group website www.audaxgroup.com.
ABOUT RESA POWER
RESA Power is the market leader in electrical life extension solutions for power distribution equipment. The Company is comprised of three business units across the United States and Canada with a focus on servicing major power distribution and control markets, and stocking a comprehensive inventory of obsolete and hard-to-find components. RESA has eight primary distribution facilities and nine service centers across the U.S., and employs field sales engineers in twelve states serving every major U.S. metropolitan area and Canada. For more information about RESA Power, please visit www.resapower.com.