Audax Group Announces the Acquisition of UK-Based Nicholl Food Packaging

Audax Group announced it has completed the acquisition of Nicholl
Food Packaging Limited ("Nicholl") from its private owners, including
founder Wilson Nicholl. Headquartered in Cannock, United Kingdom,
Nicholl is a leading supplier of aluminum foil containers to the
European food sector, with operations in the United Kingdom, France,
and Belgium. Nicholl supplies over 1,200 types of aluminum packaging
solutions to blue chip food producers, supermarkets, bakeries, and the
take-out restaurant market. Andrew Dent, Chief Executive Officer of
Nicholl, will continue to lead the existing management team.

Geoffrey S. Rehnert, Co-CEO of Audax Group, said "Nicholl is a
leading provider of aluminum food packaging solutions within Europe
and is focused on the growing ready to cook and prepared foods market.
We look forward to working with management to expand the business
organically and through strategic acquisitions in Europe and the
United States."

Wilson Nicholl, Founder and Strategic Advisor to Nicholl, said
"This is a terrific outcome for Nicholl's employees and customers.
Partnering with Audax will provide our business the resources to
strengthen our position in Europe and further penetrate the U.S.
market."

Andrew Dent, CEO of Nicholl, said "We are excited to have Audax
Group as our partner. Their experience building global businesses will
be an asset for us as we capitalize on the growing demand for ready to
cook and prepared food products across Europe and the United States."

Kirkland & Ellis LLP advised Audax Group. The company was advised
by Livingstone Guarantee LLP, a Global M&A partner of Brown Gibbons
Lang & Company, LP, who introduced the deal to Audax. Jamieson
Corporate Finance LLP advised the management team. Barclays PLC
(TK:BARC) and The Bank of Ireland (TK:BIR) provided senior and
subordinated debt financing.

ABOUT AUDAX GROUP

Audax Group, founded in 1999, is a leading investor in middle
market companies. With offices in Boston and New York, Audax manages
in excess of $2.4 billion in equity and mezzanine debt capital. For
more information visit the Audax Group website
http://www.audaxgroup.com