Archive for category: News

Koda Distribution Group (“Koda”), a portfolio company of Audax Group, today announced the appointment of Frank Bergonzi as President and Chief Executive Officer, effective August 1, 2012.

Headquartered in Stamford, CT, Koda is a distributor of specialty chemicals for paints and coatings, personal care, dyes, lubricants, construction, sealants and adhesives applications. Robert Spadoni, Koda’s Chief Executive Officer, will continue as a board member and maintain an active role in directing Koda’s strategy. Mr. Bergonzi has 29 years of experience in the chemicals industry. He was recently the Director of Corporate Distribution at BASF, one of the world’s leading chemical producers. Prior to BASF, Mr. Bergonzi held numerous key management positions with Fortune 100 Companies, including Dow Chemical, Witco Corporation, OSi Specialties and Union Carbide.

Bob Spadoni said, “Frank’s experience and successful track record make him an excellent addition to Koda. We are excited to have Frank join us as we continue to execute on our growth objectives.”

Frank Bergonzi said, “I am excited to join and lead the Koda team. Koda is a recognized leader in specialty chemical distribution and has a proven platform for growth. I look forward to building upon the success of the four companies in achieving profitable growth, both organically and via strategic acquisitions.”

ABOUT KODA DISTRIBUTION GROUP Koda Distribution Group, a leader in specialty chemicals distribution, serves customers in coatings, adhesives, sealants and elastomers (CASE), as well as construction, care, lubricants, inks and plastics end markets. It is comprised of four regional divisions servicing the United States: Ribelin in the Southwest and Southeast, GMZ in the Ohio Valley/Midwest, PT Hutchins in the West Coast, and Monson in the Northeast. All four divisions share similar approaches to their respective markets: deep technical expertise and market knowledge, a service platform which includes marketing and product management as well as a network of technical labs to support customers, a focus on customer intimacy and an absolute devotion to customer service.

Contact: Audax Group Jay Mitchell, 617-859-1546 Managing Director jmitchell@audaxgroup.com

KODA Enterprises Group announced today the acquisition of Douglas Machines Corp. located in Clearwater, Florida. Douglas is the leading manufacturer and supplier of industrial washing and sanitizing systems for food related industries. The Company designs and manufactures a broad range of systems used in the bakery, meat, poultry, food processing, packaging and distribution industries serving many of the most recognizable names in the food preparation market.

Douglas will continue to operate with its current management at its primary location in Clearwater. “We are excited with KODA’s decision to help Douglas continue its growth” said David Ward, President of Douglas. “We looked at several potential partners and we feel KODA is the best positioned to help us achieve our goals of making Douglas even stronger in our served markets.”

The acquisition was financed with Subordinated Debt provided by Harvest Capital Credit, LLC located in New York City and Senior Term and Revolver Facilities provided by Amalgamated Bank also of New York.

According to Richard Buckanavage, President of Harvest, “We view Douglas as a great company with a great management team, and a sound investment for us. We have looked forward to closing a transaction with KODA for some time now.”

KODA Enterprises Group located in Lexington, MA is a middle market private investment firm that concentrates on companies in niche markets that have the potential to benefit from the financial strength and operational expertise KODA provides to its Portfolio Companies.

For further information contact: James Peden, Chief Operating Officer KODA Enterprises Group 423-756-8891 jpeden@koda.com

KODA Realty announces the purchase of two facilities in Elkhart, Indiana and the refinancing of its facility in Sanford, Florida.

The facilities in Elkhart are leased by our Pro Air operating unit and the facility in Sanford is leased by a former portfolio company, Adapco, Inc.

Both of these facilities are being financed by Berkshire Bank. Mark Foster, Vice President of Berkshire stated “both of these facilities are in excellent condition and we are extremely confident that Koda Realty will manage these assets in a professional manner.”

KODA Enterprises Group, located in Lexington, MA is a middle market private investment firm that concentrates on companies in niche markets that have the potential to benefit by the financial strength and expertise KODA provides to its portfolio companies.

For further information contact: James Peden, Chief Operating Officer KODA Enterprises Group 423-756-8891 jpeden@koda.com