Audax Buys Elgin Fastener Group

Audax Private Equity has partnered with company management to acquire Elgin Fastener Group from GFI Energy Group. Debt financing for the transaction was provided by Madison Capital Funding. EFG manufactures short-run specialty fasteners for multiple niche industrial end markets. Audax plans to grow the company through product introductions, adjacent market expansions, process improvements and strategic add-on acquisitions.