AIS Announces Partnership with Audax Group
AIS, Inc announced it has completed its partnership with Audax Group. The senior management team of AIS, including Arthur Maxwell, Chairman and Co-Founder, and Bruce Platzman, Chief Executive Officer and Co-Founder, will continue to own a significant position and lead the company. Headquartered in Hudson, Massachusetts, AIS is a manufacturer of high quality, value-priced office systems furniture. Products include monolithic and segmented panel systems, tile-based stacking panel systems, floor-to-ceiling systems, panel and beltline raceway systems, and panel systems.
Arthur Maxwell, Chairman and Co-Founder of AIS, said “We are excited to have Audax Group as our partner. Their experience sourcing and integrating add-on acquisitions will be valuable as we continue to build our business.”
Bruce Platzman, Chief Executive Officer and Co-Founder of AIS, said “The transaction positions AIS to build on our past success. Through our partnership with Audax, AIS will further expand product offerings, enhance marketing initiatives and invest behind manufacturing and sales support in the field.”
Geoffrey S. Rehnert, Co-CEO of Audax Group, said “AIS is a growing, niche, value-priced office furniture manufacturer with world-class operations and customer support. We look forward to working with Arthur and Bruce and the rest of the team to grow the company organically and through strategic add-on acquisitions.”
Ropes & Gray LLP advised Audax Group. Lane Berry & Co. International, LLC advised AIS. Sankaty Bank provided acquisition financing and Citizens provided a working capital facility.