Audax Private Equity Partners with Stout to Support Future Growth
Stout announced today that Audax Private Equity (“Audax”) has agreed to make an investment alongside Stout’s employee shareholders to support future growth. As part of the transaction, existing Stout shareholders will maintain a meaningful equity stake in the firm and the Stout management team will continue to lead the company. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2021.
For more than 30 years, Stout has advised clients in the areas of corporate finance, valuation, financial disputes, and investigations. The firm has approximately 600 associates located throughout 23 offices in the U.S., Europe, and Asia. The firm ranks as a top fairness opinion provider and has earned the highest client satisfaction rating in its industry. Its continuous commitment to quality is the reason Stout has been hired by more than two-thirds of the Fortune 500 companies and top 100 global private equity firms, as well as more than 75 of the United States 100 largest law firms.
Craige Stout, Chief Executive Officer of Stout, commented, “This partnership marks the next chapter in the long-term growth of Stout. We are excited to join the Audax family and I am grateful for their confidence in Stout and our ability to continue our growth trajectory. Most importantly, I, along with co-founders Jeff Risius and John Ross, wish to thank our Stout colleagues who have worked tirelessly to make this firm a success.”
Jeff Risius, Chief Client Service Officer of Stout, added, “We are confident that our clients and employees alike will benefit from this partnership with Audax – a firm with expertise and resources to help us continue to build our position in the market through strategic acquisitions and growth initiatives.”
Bill Allen, Managing Director at Audax, said, “Stout has an outstanding reputation for delivering best in class advisory services, demonstrated by their strong track record of organic growth and commitment to quality for their clients. We are excited to partner with the Stout management team as they continue to build on their success in the next phase of growth.”
Adam Abramson, Managing Director at Audax, said, “We look forward to partnering with Craige, Jeff, and the entire Stout team to continue their impressive track record and also to pursue strategic acquisitions and partnership opportunities to accelerate future growth.”
William Blair & Company acted as financial advisor and Winston and Strawn LLP served as legal counsel to Stout.
Jefferies LLC acted as financial advisor and Ropes & Gray LLP served as legal counsel to Audax.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $30 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $7 billion in more than 140 platforms and over 1,000 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax Private Equity seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 300 employees, Audax is a leading capital partner for North American middle market companies. For more information, visit the Audax Private Equity website or follow us on LinkedIn.