Audax Private Equity, in partnership with management, has completed the sale of distributor HALO Branded Solutions (PPAI 106462) to HALO Management and TPG Growth, LLC, the middle market and growth equity platform of global alternative asset firm TPG.
“The HALO team transformed the business from a leader in promotional products distribution into a provider of comprehensive branded solutions across promotional products and employee recognition by adding new products and solutions, expanding the geographical footprint, and increasing scale through organic growth and strategic acquisitions. We wish Marc [Simon, HALO CEO] and his team continued success with their new partner,” says Geoffrey S. Rehnert, co-chief executive officer, Audax Group.
Simon adds, “Audax has been instrumental in helping us grow HALO over the past two years. Together we have successfully expanded into the employee recognition space and solidified our position as a leader within promotional products distribution. The company is well positioned to continue on our organic and acquisition growth trajectory and to continue to provide our clients with innovative, customized solutions that showcase their brand and values. We look forward to the next phase of HALO’s growth.”
The Sterling, Illinois-headquartered company operates across two business lines: HALO Branded Solutions and HALO Recognition, the latter of which designs and administers employee incentive and rewards programs for enterprise customers. HALO has a nationwide salesforce of more than 1,200 account executives who are supported by a team of more than 500 corporate service professionals.
