June 7, 2007
Pittsburgh, PA: Lewis-Goetz and Company, Inc., headquartered in Pittsburgh, PA and one of the nation’s largest industrial distributors, announced today that it has finalized a recapitalization of the company. The recapitalization was led by Audax Group, a private equity firm based in Boston Massachusetts. Vetus Partners served as exclusive financial advisor to Lewis-Goetz & Company, Inc. Buchanan Ingersoll & Rooney PC served as counsel to Lewis-Goetz, and Ropes & Gray LLP served as counsel for Audax.

Lewis-Goetz is a leading independent value-added distributor of industrial rubber products, including industrial, hydraulic, and metal hose, conveyor belts, gaskets and seals, and related accessories and services. Lewis-Goetz operates from 48 locations throughout the United States and Canada. The Company was recently ranked 31st on Industrial Distribution’s list of the Big 50 industrial distributors.

David R. Goetz, Sr., Chairman and CEO of Lewis-Goetz, stated that the recapitalization will, “Provide the company with the necessary financing to continue the long-term strategy of consolidating the fragmented industrial rubber distribution market. Lewis-Goetz engaged Vetus as its exclusive financial advisor due to Vetus’ extensive and unequaled experience in the wholesale distribution industry and knowledge of the private equity community. We are convinced we have found the right partner to support our long-term strategy. The Audax team is clearly excited about the opportunity the company presents and our management team and associates are excited at the prospects of building on our impressive track record of profitable growth.”

Geoffrey S. Rehnert, Co-CEO of Audax Group, said “Lewis-Goetz has developed a leading position as a value-added distributor in the fragmented rubber products industry, serving diverse and stable end-markets. We look forward to working with Dave Goetz and his team to grow the business by expanding into new geographic markets and making strategic add-on acquisitions.”

For information, contact:
Donna Barger