Chartwell is pleased to announce Blackstone has successfully completed a minority equity investment in Salas O’Brien, a leading employee-owned engineering and technical services firm.


Chartwell Advises SJE on Majority Sale to Audax Private Equity

June 2021

Chartwell is pleased to announce a majority equity sale of S. J. Electro Systems (SJE) to Audax Private Equity. The investment from Audax comes as SJE aims for continued growth and expansion within the controls industry. Chartwell served as the exclusive financial advisor to SJE, providing the board of directors and management M&A advice throughout the transaction process.

About SJE

Founded in 1975, SJE is a leading controls technology company throughout the U.S. and Canada, as well as into global markets. SJE is comprised of well-respected brands — CSI Controls, PRIMEX, SJE Rhombus — all known for their innovation and quality. With locations throughout the U.S. and Asia and expertise in the reliable integration of engineering and manufacturing capabilities from control panels utilizing embedded circuit board technology to complete control and monitoring systems designed and built to individual specifications, SJE offers a wide variety of control products for residential, commercial, municipal, and industrial markets.

SJE will look to benefit from the strategic and financial resources Audax brings to its portfolio companies. These resources will help drive investments in the business, support growth strategy, and enable SJE to continue pursuing acquisitions.

About Audax Private Equity

Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $27 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $6 billion in more than 135 platforms and over 950 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies.

Chartwell Contact

For additional information on this transaction, please contact Dan Kaczmarek. To learn more about Chartwell’s corporate finance capabilities, please contact Greg Fresh.

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