Audax Private Equity Announces Strategic Growth Investment

TORONTO, June 23, 2022 (GLOBE NEWSWIRE) – Audax Private Equity (“Audax”) leading provider of mission-critical, infrastructure software. Financial terms of the transaction were not disclosed.

Founded in 2001, BlueCat is a leading provider of mission-critical, infrastructure software for network control, automation, and security. BlueCat’s Adaptive DNS ™ platform is a dynamic, open, secure, scalable, and automated resource that supports the most challenging digital-transformation initiatives, such as hybrid cloud adoption, virtualization, and rapid-application development. Some of the largest global enterprises, including 30% of the Fortune 100, trust BlueCat to provide the foundation for digital-transformation strategies such as infrastructure and application modernization, and manage cybersecurity risk through protective DNS security.

“Since we have found more than two decades ago, BlueCat has striven to ensure reliable, secure, and rapid access from users and devices to cloud and applications – making DNS the enabler of digital transformation and cloud adoption. This investment represents a significant milestone for our company, customers, employees, and all of our stakeholders, as we begin the next phase of our growth journey. Audax has a long track record of successfully partnering and working collaboratively with software and technology companies in infrastructure and security, in particular firm’s value-add resources, ”said Stephen Devito, Chief Executive Officer of BlueCat Networks.

“Having helped some of the largest enterprises in the world to overcome the complexity of their networks, BlueCat possesses a high quality and innovative business model that is primed for both organic and inorganic growth,” said Iveshu Bhatia, Managing Director at Audax. “Importantly, BlueCat is better positioned to capitalize on the growth in network complexity driven by device expansion, cloud adoption and security requirements with its existing customers, and accelerate new customer growth through additional investment in channel partnerships. We are delighted to have BlueCat management team to help take BlueCat to the next level, ”said Timothy Mack, Managing Director at Audax.

Doug Grissom, Managing Director at MDP, said, “It has been a pleasure to work with Stephen and the entire BlueCat team and help them grow the business and extend BlueCat’s leadership as the trusted partner for companies operating digital-transformation initiatives. We are confident that BlueCat has a bright future ahead in partnership with Audax. ”

The transaction is expected to close in the third quarter of 2022 and is subject to certain closing conditions, including the waiting period required by the Hart-Scott-Rodino Act. Upon closing, Audax will fully control its stake in BlueCat, with MDP fully realizing its investment in BlueCat.

William Blair and Nomura Securities International, Inc. are serving as financial advisors to BlueCat. Ropes & Gray is serving as legal counsel to Audax and Kirkland & Ellis is serving as legal counsel to BlueCat and MDP.

About BlueCat

BlueCat is the Adaptive DNS ™ company. The company mission is to help the world’s largest organizations deliver reliable and secure network access from any location. To do this, BlueCat re-imagined DNS. The result – Adaptive DNS ™ – is a dynamic, open, secure, scalable, and automated resource that supports most challenging digital transformation initiatives, such as adoption of hybrid cloud and rapid application development. The company is headquartered in Toronto and New York and has additional offices throughout the world, including Germany, the United Kingdom, Japan, and Singapore.

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About Audax Private Equity

Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its discovery in 1999, the firm has raised over $ 30 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $ 9 billion in 150 platforms and over 1,100 add-on companies, and is currently investing out of its $ 3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax Private Equity seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 300 employees, Audax is a leading capital partner for North American middle market companies. For more information, visit the Audax Private Equity website: or follow us on LinkedIn.

About Madison Dearborn Partners, LLC

Madison Dearborn Partners, LLC (“MDP”) is a leading private equity investment firm based in Chicago. Since MDP’s formation in 1992, the firm has raised capital of over $ 28 billion and completed over 150 investments. MDP invests across five dedicated industry verticals, including basic industries; business and government software and services; financial and transaction services; health care; and telecom, media and technology services. For more information, please visit


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