DI and Thorpe Products merge
Thorpe Products and DI have merged their operations.
Thorpe Products and Distribution International (DI) have completed their tie-up and may no longer require merger and acquisition advisors.
DI provides insulation, safety supplies and specialty fabricated items to customers around North America and following the deal, both enterprises will operate underneath the DI brand.
Furthermore, the combined organisation will be run by management teams from all two firms.
Thorpe Products chief executive Robert Hlavenka said: "In merging with DI, we will expand our product offering, geographic footprint and fabrication capabilities, while maintaining the standards of service that our customers have come to expect."
In August 2010, the Audax Group acquired DI and since this initial investment, the firm has also purchased IDC Corporation and Blackhawk Speciality Company.
This group was established in 199 and has become a premier investor in middle-market enterprises, managing at least $5 billion (£3.09 billion) of capital.
Audax' managing director Young Lee said the transaction will increase DI's reach in the Midwest and Gulf Coast of the US.
Source: Audax Group press release, May 3rd
Posted by Ron Maverick