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Audax Private Equity announces strategic growth investment in BlueCat Networks

TORONTO, June 23, 2022 (GLOBE NEWSWIRE) — Audax Private Equity (“Audax”) today announced that it has entered into a definitive agreement to make a strategic growth investment in BlueCat Networks (“BlueCat” or the “Company”), a leading provider of critical infrastructure software. Financial terms of the transaction were not disclosed.

Founded in 2001, BlueCat is a leading provider of 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 world’s largest 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 risks with DNS security protective.

“Since our inception more than two decades ago, BlueCat has strived to ensure reliable, secure, and fast user and device access to clouds and applications, making DNS an enabler of digital transformation and innovation. cloud adoption. This investment represents an important milestone for our business, our customers, our employees and all our stakeholders, as we embark on the next phase of our growth journey. Audax has a long and reputable track record of partnering and collaborating with software and technology companies in the areas of infrastructure and security, particularly in deploying its Buy & Build strategy to expand offerings and penetrate adjacent markets, and we look forward to benefiting from the company’s value-added resources,” said Stephen Devito, president and CEO of BlueCat Networks.

“Having helped some of the world’s largest enterprises overcome the growing complexity of their networks, BlueCat has an innovative, high-quality business model primed for both organic and inorganic growth,” said Iveshu Bhatia, CEO of ‘Audax. “Most importantly, BlueCat is well 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 investments in distribution partnerships. We are excited to have the unique opportunity to work closely with Stephen and the entire BlueCat leadership team to help take BlueCat to the next level,” said Timothy Mack, Managing Director of Audax.

Doug Grissom, Managing Director of 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 a trusted partner. for companies implementing digital transformation initiatives. We are convinced that BlueCat has a bright future ahead of it 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. At closing, Audax will hold a majority stake in BlueCat, with MDP fully realizing its investment in BlueCat.

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

About Blue Cat

BlueCat is the Adaptive DNS™ company. The company’s mission is to help the world’s largest organizations provide reliable and secure network access from anywhere. To do this, BlueCat has reinvented DNS. The result – Adaptive DNS™ – is a dynamic, open, secure, scalable, and automated resource that supports the most challenging digital transformation initiatives, such as hybrid cloud adoption and rapid application development. The company is headquartered in Toronto and New York and has additional offices around the world including Germany, UK, 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 inception in 1999, the firm has raised more than $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 complementary companies, and is currently investing in its sixth $3.5 billion private equity fund. Through its disciplined Buy & Build approach, Audax Private Equity seeks to help platform companies achieve add-on acquisitions that fuel revenue growth, optimize operations and significantly increase equity value. With over 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 Chicago-based private equity investment firm. Since MDP was founded in 1992, the company has raised total capital of more than $28 billion and made more than 150 investments. MDP invests in five dedicated verticals, including core industries; commercial and government software and services; financial and transactional services; Health care; and telecommunications, media and technology services. For more information, visit


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