Oaktree Capital Management and GFI Energy Ventures have sold Elgin Equipment Group to Audax Group

Lincoln International, a leading global mid-market investment bank, has announced that Elgin Equipment Group (“EEG”) has been sold to Audax Group. EEG was a portfolio company of OCM/GFI Power Opportunities Fund II, L.P., which is jointly managed by Oaktree Capital Management LLC (“Oaktree”) and GFI Energy Ventures LLC (“GFI”).

Based in Downers Grove, Illinois, and with manufacturing locations in southern Illinois, Missouri, Virginia and West Virginia, EEG is a leading provider of high-performance, custom-engineered process equipment and replacement parts for the global mining, minerals and energy markets. EEG’s products, marketed under the CMI, CSI, Tabor Machine, Norris Screen, Mining Controls, Gilbert Electrical, and Clinch River brand names, include centrifuges, vibrating screens and screen in-lays, rotary breakers, and custom-designed power distribution and lighting equipment. The innovative products are recognized for their reliable performance in harsh operating environments and are critical components of its customers’ processing operations.

“Lincoln did an excellent job of identifying the right potential acquirers on a global basis and managing the process all the way to close,” said David Hall, President/CEO of EEG. “Lincoln helped find the right home for EEG, and we look forward to executing our growth plan with the assistance of our new partners at Audax Group.”

Lincoln International acted as the exclusive financial advisor to EEG and Oaktree/GFI, working closely with the company’s management team and shareholders throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, due diligence and final negotiation phases of the transaction.

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