Audax Private Equity has reached a major milestone with the completion of its 1,500th add‑on acquisition, marking a significant achievement for the firm’s long‑standing Buy & Build strategy. The milestone was reached in mid‑April with FCH’s acquisition of Sanitary Solutions Group, a transaction that was publicly announced earlier in May. The firm emphasized that this accomplishment reflects more than 25 years of building the capabilities, processes, and teams required to systematically create, enable, and protect value across its portfolio companies. As of January 2026, Audax Private Equity oversaw approximately $19.5 billion of assets under management, underscoring the scale at which the firm operates.
Since its founding in 1999, Audax has invested in more than 180 middle‑market platforms across sectors including business services, financial services, healthcare, industrial services and technologies, and software and technology. The firm’s Buy & Build approach has become a defining feature of its investment strategy, supported by a dedicated Strategic Resources Group of more than 60 functional experts and consulting professionals. This team works closely with portfolio companies to enhance go‑to‑market strategies, support due diligence for add‑on acquisitions, and drive post‑merger integration efforts.
Audax has consistently ranked among the most active private equity acquirers in the United States for more than a decade, according to PitchBook league tables. In 2025, the firm ranked sixth among the most active acquirers, completing more than 100 add‑on transactions during the year. The firm’s disciplined approach has also earned recognition from industry publications, including Mergers & Acquisitions Journal, which recently highlighted the sale of Stout as one of its 2026 Deals of the Year. The publication cited Stout’s rapid expansion under Audax ownership, during which the company completed 10 add‑on acquisitions.
Audax leaders emphasized that while mergers and acquisitions are central to the firm’s strategy, the foundation of its success lies in partnering with strong management teams and providing them with the resources needed to pursue ambitious growth plans. The firm’s national Business Development team plays a critical role in sourcing new platforms and accelerating M&A activity, often beginning work even before a deal closes. With its 1,500th add‑on now complete, Audax highlighted the milestone as a testament to the relationships, expertise, and operational rigor that have shaped the firm’s trajectory over the past quarter century.
KEY QUOTES:
“As a first generation Buy & Build firm, add‑on acquisitions represent a core component to how we seek to accelerate value creation across our portfolio through the disciplined execution of the Audax Value Agenda. It’s incredibly rewarding to reach such a significant milestone and believe it speaks to the capabilities put in place over the past 25‑plus years to help our portfolio companies try to create, enable, and protect value in a systematic and repeatable way.”
Young Lee, Partner and Co‑President of Audax Private Equity
“While M&A helps to fuel our approach, and we bring differentiated capabilities to help effect a Buy & Build strategy, at its core, we try to partner with exceptional management teams and give them the resources necessary to realize their vision for growth. The sale of Stout last year provided a compelling example of the outcomes possible through our partnership with management and the execution of the Audax Value Agenda. We’re incredibly proud of this latest milestone and the relationships that have made it possible over the past 25‑plus years.”
Keith Palumbo, Partner and Co‑President of Audax Private Equity
