BDO Capital Advisors Announces the Partnership of Neptune-Benson, Inc. with Audax Group

Boston, MA – August 11, 2011 - BDO Capital Advisors, LLC is pleased to announce the closing of a transaction between Neptune-Benson, Inc. (“Neptune-Benson” or the “Company”) and Audax Group (“Audax”). As the exclusive financial advisor to NeptuneBenson, BDO Capital prepared a confidential offering memorandum, identified and contacted a targeted group of potential buyers and assisted management in structuring and negotiating the transaction.

Neptune-Benson, a family-owned business based in Coventry, Rhode Island, offers one of the most comprehensive lines of filter systems, recirculation systems and accessories worldwide and is recognized by industry professionals for its unsurpassed technical acumen. Since its inception more than 50 years ago, the Company has enjoyed widespread recognition of its branded products, which have attracted over 10,000 clients worldwide including such premiere accounts as Disney Resorts, Legoland, SeaWorld, and the Georgia Aquarium. Neptune-Benson targets customers in key niche end markets that are characterized by high product specification requirements, creating a barrier to entry and the ability to generate industry-leading gross margins.

The Investor, Audax, was founded in 1999 with offices in Boston and New York and focuses on investments in middle market companies. Audax manages over $4.8 billion of capital through its private equity, mezzanine debt, and senior secured debt funds. The Audax Private Equity team, located in Boston, includes more than 60 professionals focused on investing across a variety of industries, with 40% of platform investments made in manufacturing businesses. Audax Private Equity seeks to acquire controlling interests in small cap and lower-middle market companies and invests equity of $10 million to $100 million in transactions valued between $15 million and $250 million.

 BDO Capital Advisors sourced this transaction from its own proprietary referral network. The transaction was overseen by Managing Director Valentina Midura and Associate Molly Stumbras from BDO Capital Advisors’ Boston office.
 

ABOUT BDO CAPITAL ADVISORS, LLC
BDO Capital Advisors, LLC is a leading middle market investment bank that focuses on mergers and acquisitions advisory, capital raising, and board advisory with offices located throughout the United States. The firm has deep industry knowledge, extensive cross-border transaction experience, and superior execution capabilities. BDO Capital Advisors, LLC provides sell-side and acquisition advisory, ESOP advisory, private placements, fairness opinions, and capital markets advisory. The firm has broad industry expertise and contacts having closed transactions within the Manufacturing & Distribution, Consumer, Food & Retail, Healthcare & Life Sciences, Business Services, Energy & Natural Resources, and Technology, Media & Telecom sectors. Our seasoned investment bankers have collectively advised on hundreds of transactions for a variety of clients including family-owned businesses, entrepreneur-led companies, public corporations, and leading private equity firms.

The firm has worldwide access to buyers, sellers, and offshore investors via the Corporate Finance practices of BDO International’s network of independent member firms which have been ranked collectively as a Top 5 global M&A midmarket advisor based on total deal volume announced in 2016, according to Thomson Reuters SDC. BDO International Corporate Finance firms operate in approximately 60 countries with over 2,000 professionals who are able to meet the investment banking needs of clients across the globe.