Founded in 1913 and headquartered in Cedar Rapids, IA, HR Green supports its public and private sector clients on projects across a wide range of end-markets, including transportation, water, municipal advisory, broadband, and land development. Through its depth of engineering expertise and experience, the Company offers industry-leading technical solutions that help to build and improve communities across the Midwest, South, Mountain West, and California. Over the past 17 years, Joe has been involved with more than 30 of Audax’ platform companies. Joe primarily focuses on healthcare, business services, distribution, and industrial technology investments. Prior to joining Audax in 2023, Chelsea was a Director on the Private Credit and Capital Markets team at KKR. She also previously worked as a Director within Guggenheim Partners Asset Management focused on private credit investment and origination, and held underwriting roles on the direct lending teams of Golub Capital and CIT.
As a multi-asset class manager with a range of alternative investment strategies, Audax has established long-term relationships across the middle market and invests in every tranche of the capital structure on behalf of a global and diverse investor base. While at GE Capital, Mike held various leadership positions in its leveraged finance businesses for PE sponsor and non-sponsor transactions, including new business origination, portfolio management, credit workouts, and restructurings. Senior lenders may also be amenable to mezzanine due to the lack of regularly scheduled, required principal amortisation payments and because the cash interest portion can be blocked by senior debt providers during times of business underperformance.
Founded in 1983 and headquartered in Dulles, Virginia, Unison offers its clients differentiated solutions to help them transact and manage contracts more efficiently and comply with complex federal contracting requirements. Unison’s software suites turn AI, bot, and NLP technologies into applied innovation—solving real business problems and creating opportunities for clients. A trusted partner with longstanding relationships and a track record of customer-led success, Unison currently serves all 15 U.S. cabinet-level agencies and has more than 200,000 product end users. Headquartered in Phoenix, Arizona and serving 25 markets across the U.S., A1 is a market leader in the direct-to-consumer residential repair and replacement garage door services industry.
He is responsible for originating and executing new investments and monitoring portfolio companies. Adam is a Managing Director at Audax Private Debt, overseeing our unitranche and junior debt investment teams. Steve is the Co-Head of Originated Debt at Audax Private Debt, overseeing Mary Hoover Drucker our unitranche and junior debt investment teams. Over the last 24 years, we have raised around $31 billion of capital across our senior debt, unitranche, and junior debt strategies to provide financing solutions for middle market, private equity-backed companies.
Since joining Audax in 2000, Young has invested in more than 40 Audax platform companies. Young primarily focuses on business services, specialty distribution, and medical devices and products. Prior to joining Audax, Young was with Donaldson, Lufkin & Jenrette, Inc. and JPMorgan Chase & Co.
The Company has grown rapidly, both organically and through acquisitions, since its founding in 2007. Today, A1 is one of the largest and most reputable residential garage door service providers in the country. Since joining Audax in 2006, David has been involved with over 30 of Audax’ platform companies. David primarily focuses on medical products and healthcare services, business and industrial services, and specialty distribution. Audax Group targets investments in the U.S. middle market, the world’s third largest economy as measured by Gross Domestic Product . Prior to joining Audax in 2015, Jason worked at Morgan, Lewis & Bockius LLP and Bingham McCutchen LLP as Counsel, where he advised private fund clients and other investment advisers.
Additionally, David is active with the San Francisco chapter of SEO Scholars, which provides educational and career opportunities for underrepresented minority public school students and the St. Jude Children’s Hospital. Audax dedicates time, resources, and expertise to support a wide array of nonprofit and charitable organizations across Boston, San Francisco, New York, and the local communities in which our businesses operate. Our ESG Committee includes the President of Audax Private Debt, three Managing Directors, and our internal ESG Specialist.
Audax Private Debt achieved the highest position in PitchBook’s 2023 Annual U.S. PE Lending League Tables, securing the #1 spot as the most active lender in U.S. PE. Additionally, the firm is proud to have attained the #1 rank in both the “Overall” and “Select Roles” lists of PitchBook's 2023 U.S. Prior to joining Audax, Joe worked at The Parthenon Group, a strategic advisory firm. Joe received an M.B.A. from The Wharton School at the University of Pennsylvania and a B.A.
In an uncertain rate environment, the fixed-rate options of mezzanine structures provide an interest-rate hedge, instilling more certainty for borrowers in a dynamic and evolving market. The increase in the cost of capital for floating-rate debt is also driving weaker fixed-charge coverage and interest coverage ratios. But to fully appreciate the pick-up in the mezzanine market, it helps to understand the factors influencing other areas of debt financing. Banks and other senior debt lenders have reduced their risk appetite and pulled back on their commitment sizes.
They are not intended to be a recommendation or investment advice, do not constitute a solicitation to buy, sell or hold a security or an investment strategy, and are not provided in a fiduciary capacity. They do not take into account the specific objectives or circumstances of any particular investor or suggest any specific course of action. Audax has provided the party above with de minimis compensation to make use of such awards and recognition. Audax Private Debt announced that, as Administrative Agent and Joint Lead Arranger, it provided a unitranche credit facility to support Odyssey Investment Partners’ acquisition of Magna Legal Services. Founded in 2005 and headquartered in Columbia, MD, GCOM delivers innovative solutions to state and local governments nationwide, with a focus on systems in health and human services, justice and public safety, licensing and regulatory markets.
Audax Private Debt (“Audax”) announced that, as Administrative Agent and Lead Arranger, it provided a unitranche credit facility to support Gauge Capital (“Gauge”) in their acquisition of Engine & Transmission Exchange (“ETE” or the “Company”). Audax Private Debt Flexible, customized equity solutions for private equity sponsors. Paradoxically, the shifting landscape has had little influence on purchase price multiples – at least not for the deals getting done. A flight to quality coupled with a dearth of dealflow means that valuations for businesses with strong growth prospects remain elevated. Adequate leverage, thus, is required to finance new platform acquisitions, and mezzanine debt has helped fill this gap.
Our proprietary reporting systems provide us with customized views of qualitative and quantitative ESG data, enhancing our team’s analytical and reporting capabilities. HR Green is a provider of infrastructure design, consulting, and civil engineering services. The Company serves public and private sector clients on projects across transportation, water, municipal advisory, broadband, and land development.
He was previously employed at Drexel Burnham Lambert and Donaldson, Lufkin & Jenrette, where he began his career and focused on leveraged finance. Marc Wolpow is Co-Chief Executive Officer and Co-Founder of Audax Group and Executive Chairman of Audax Private Debt. Along with his business partner, Geoff Rehnert, Mr. Wolpow manages the firm and has overseen all phases of Audax Group’s development since its founding in 1999. Prior to starting Audax Private Debt in 2000, Kevin was a Managing Director in the Leveraged Finance/Merchant Banking Group at CIBC World Markets Corp. He also previously worked at Drexel Burnham Lambert, Wasserstein Perella and Kidder Peabody, principally in a leveraged finance role.