Mary Hoover Drucker Today

We believe sound ESG practices have the potential to improve performance while promoting a positive impact on society and the greater environment. We embrace and integrate ESG factors into our investment strategy and believe doing so enhances our ability to build better businesses and create value. Founded in 1985 and headquartered in Milwaukee, WI, Engine & Transmission Exchange is a leading independent remanufacturer of aftermarket vehicle transmissions and other automotive aftermarket repair and replacement parts. ETE offers a number of complementary services, including transmission repair, engine and transfer case repair and replacement, and servicing of torque convertors. With a legacy spanning over 35 years, the Company’s proven remanufacturing process returns used transmissions to “new” or “better-than-new” condition by using reclaimed and re-machined components.
Based in New York, Audax Private Debt is a leading debt capital partner for North American middle market companies. Since its inception in 2000, the firm has invested more than $36 billion in support of over 275 private equity sponsors. Audax Private Debt is an experienced and trusted partner with senior leadership averaging more than 26 years in private credit and 15 years working together at the firm through multiple economic cycles. Audax Private Debt invests in established middle market companies through first lien, stretch senior, unitranche, second lien, subordinated debt, and equity co-investment solutions.

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.

In a high interest rate environment, some borrowers may struggle to maintain adequate FCCR and interest-coverage ratios. Mezzanine’s ability to allow for PIK-interest payments improves the ability of borrowers to cover their current cash interest and fixed charges. Given heightened base rates, the cash interest rate for mezzanine tranches is often lower than unitranche and sometimes lower than senior debt cash interest rates. In this sense, mezzanine structures can preserve cashflow during windows when liquidity dries up. Kevin is responsible for overseeing all facets of Audax’ debt business, including origination, underwriting, and portfolio management as well as setting the business’ strategic direction.
DLS exceeded its fundraising target of $1.25 billion with commitments from a diverse set of institutional investors from the U.S., Europe, Asia‐Pacific, the Middle East, Canada, and Latin America. Including anticipated leverage, DLS has over $2.6 billion of total capital available to deploy in North American middle market companies. Bryant is a Managing Director at Audax Private Debt, overseeing our unitranche and junior debt investment teams. Dan is a Managing Director at Audax Private Debt, overseeing our unitranche and junior debt investment teams. Robin is a Managing Director at Audax Private Debt, overseeing our unitranche and junior debt investment teams. Remington is a Managing Director at Audax Private Debt, overseeing our unitranche and junior debt investment teams.
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.

Pieter is a Vice President at Audax Private Debt, and a member of our senior debt investment team. John is a Vice President at Audax Private Debt, and a member of our senior debt investment team. Ludwig is a Principal at Audax Private Debt, and a member of our senior debt investment team.
Audax Private Equity Partnering with middle market leaders to fuel growth and build value. The observation that everything old is new again, ironically, never seems to get old. This is particularly true in 2023, as vinyl records again outsell CDs and acid-wash jeans plot their own unlikely comeback.

Rob is a Principal at Audax Private Debt, and a member of our senior debt investment team. Even in benign environments, mezzanine debt holds unique appeal, with attributes that senior-only facilities don’t provide. Mezzanine, today, is being used by sponsors not just for new platform financing arrangements but also portfolio company expansion, when sponsors need to fund M&A but are reluctant to reprice existing credit facilities at today’s higher rates. Tim is an Analyst at Audax Private Debt, and a member of our senior debt investment team.
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.
Prior to joining Audax in 2021, Alexander worked at HighBrook Investors, where he was Chief Financial Officer and oversaw the finance, portfolio management and debt capital markets functions. Prior to that, Alexander worked at Lexington Realty Trust, focused on corporate transactions. The role of mezzanine within the capital structure isn’t always obvious from the outside looking in.