Key Takeaways
- • Audax Private Equity has acquired the U.S. operations of Strahman Holdings, a Bethlehem Township, Pennsylvania valve maker, for an undisclosed price, according to the Inside Your Town report.
- • Strahman makes industrial valves and washdown equipment serving the pharmaceutical, food and beverage markets, and will be added to Audax's Flow Control Holdings (FCH) portfolio.
- • Strahman will remain headquartered in Northampton County, and CEO Jeff Graby will stay temporarily during the ownership transition while the rest of the leadership team and personnel move to FCH.
- • Audax Private Equity, founded in 1999 and based in Boston and San Francisco, manages about $16 billion in assets under management; its parent Audax Group manages about $36 billion.
Summary
Audax Private Equity has acquired the U.S. operations of Strahman Holdings of Bethlehem Township, Pennsylvania, for an undisclosed price, according to a report from Inside Your Town. Strahman, located at 2801 Baglyos Circle, manufactures industrial valves and other products used in the pharmaceutical, food and beverage markets. The business will be added to the portfolio of Audax's Flow Control Holdings (FCH) business, including its "washdown equipment" such as spray nozzles.
According to an Audax statement, Strahman will continue to operate from its Northampton County headquarters. Scott Kerns, chief executive officer of FCH, said Strahman "has an impressive line of products and a strong record of innovation in the U.S. dairy and washdown markets." Strahman CEO Jeff Graby will remain with the company temporarily during the ownership transition, and the rest of the leadership team and personnel will join FCH. Graby described Strahman as "a great strategic fit with FCH."
Don Bramley, a partner at Audax Private Equity, said Strahman "has shown tremendous momentum in recent years,” adding that the acquisition expands FCH's manufacturing base and will boost brand awareness. Managing Director Andrew Oliver of Audax said the transaction will help FCH become a leader in the sanitary flow-control market.
Strahman was founded in 1921 as Strahman Valves Inc. in New York City by Theodore and Herman Strahman, according to the company website. It moved to New Jersey in 1958, acquired MG Process Valves of Mery, France in 2004, and expanded into Bethlehem Township in 2006. It now has manufacturing facilities in the U.S., France and Germany.
Audax Private Equity was founded in 1999 and is based in Boston and San Francisco. It has about $16 billion in assets under management and employs roughly 185 people. It is part of the Audax Group, which has about $36 billion in assets under management. The financial terms of the transaction were not disclosed.
According to an Audax statement, Strahman will continue to operate from its Northampton County headquarters. Scott Kerns, chief executive officer of FCH, said Strahman "has an impressive line of products and a strong record of innovation in the U.S. dairy and washdown markets." Strahman CEO Jeff Graby will remain with the company temporarily during the ownership transition, and the rest of the leadership team and personnel will join FCH. Graby described Strahman as "a great strategic fit with FCH."
Don Bramley, a partner at Audax Private Equity, said Strahman "has shown tremendous momentum in recent years,” adding that the acquisition expands FCH's manufacturing base and will boost brand awareness. Managing Director Andrew Oliver of Audax said the transaction will help FCH become a leader in the sanitary flow-control market.
Strahman was founded in 1921 as Strahman Valves Inc. in New York City by Theodore and Herman Strahman, according to the company website. It moved to New Jersey in 1958, acquired MG Process Valves of Mery, France in 2004, and expanded into Bethlehem Township in 2006. It now has manufacturing facilities in the U.S., France and Germany.
Audax Private Equity was founded in 1999 and is based in Boston and San Francisco. It has about $16 billion in assets under management and employs roughly 185 people. It is part of the Audax Group, which has about $36 billion in assets under management. The financial terms of the transaction were not disclosed.
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