New York – November 2018
– Tailwind Capital (“Tailwind”), a middle market private equity firm investing in targeted sectors within healthcare, business services and industrial services, has completed the sale of Colony Hardware Corporation (“Colony”) to Audax Private Equity (“Audax”). As part of the transaction, Tailwind will retain an equity stake in the company alongside Audax. Financial terms of the transaction were not disclosed.
Colony is a specialty distributor of safety equipment, power tools and other small-ticket jobsite essentials. Through a hub-and-spoke, route-based business model, the company offers on-site delivery of jobsite essentials to multiple trades of contractors serving the commercial construction and public infrastructure construction markets. Since Tailwind’s investment in 2015, Colony has grown from 10 branches in 7 states to 29 branches across 11 states.
Jeff Calhoun, Partner at Tailwind, said, “We are thrilled with our investment in Colony and want to thank the management team for their leadership. We are excited to continue working with the Colony team through its next phase of growth.”
Michael Weiner, Colony Founder and President, added, “We are very proud of what we have accomplished in partnership with the Tailwind team. With Tailwind’s support, we have scaled the Colony platform through organic initiatives and nine add-on acquisitions. We are looking forward to working with Tailwind and Audax to continue to drive growth.”
About Colony Hardware
Colony is a distributor of safety equipment, power tools and other small-ticket jobsite essentials to multiple trades of contractors serving the commercial construction and public infrastructure construction markets. The company utilizes a hub-and-spoke, route-based business model offering customers on-site delivery of jobsite essentials, with 29 branches throughout the Northeast, Midwest, and Mid-Atlantic. For more information, please visit www.colonyhardware.com
About Tailwind Capital
Tailwind Capital is a middle market private equity firm focused on growth-oriented investments in targeted sectors within healthcare, business services and industrial services. Tailwind partners with experienced management teams and entrepreneurs to transform businesses through organic growth initiatives, acquisitions, and operational and strategic investments. Since inception, Tailwind has managed $3.6 billion of committed equity capital, and has invested in 39 portfolio companies and over 80 add-on acquisitions.