Audax Group, founded in 1999, is an alternative asset manager with offices in Boston, New York and Menlo Park. Focused on bringing long-term value to the North American middle market, Audax Group is creative in its thinking.
We sat down with Audax’s Managing Director and COO, Richard T. Joseph, to discuss Audax’s differentiation, its focus on add-on acquisitions, and the best piece of professional advice Rich has received.
“To be successful, you have to have a really good sense of humor, have a really thick skin and be able to marry that with professional patience.”
What is the history of Audax’s founding?
Audax was founded in 1999 by two entrepreneurs, Marc Wolpow and Geoff Rehnert, who wanted to pursue their passion for investing. We focus on investing behind companies in the middle market – a broadly defined space that we identify as companies having $5 million to $40 million in EBITDA – for private equity and private debt.
How would you describe Audax’s differentiation?
The value-add, and differentiator, that we bring to our investors and to the companies we invest in is the ability to source, diligence, and execute on accretive add-on acquisitions. We’re able to complete these add-on acquisitions because of the specialized infrastructure we’ve developed — the people, controls, systems and mindset within Audax all focus on equity value creation within a portfolio company. And that helps us deliver excellence.
What is the best piece of professional advice you’ve ever received?The best piece of advice I try to impart on folks is: No matter where you go in life, you have to have a really good sense of humor, have a really thick skin and be able to marry that with professional patience. I believe the only way you’re going to be able to succeed in life, no matter how smart or driven you are, is to join those attributes together. It makes you successful in any environment, a team player and an individual contributor at the same time.