Audax Private Debt Provides Financing to Support The Sterling Group’s Acquisition of The Scruggs Companies

NEW YORK - Audax Private Debt announced that, as Administrative Agent and Lead Arranger, it provided a senior secured credit facility to support The Sterling Group Foundation Fund in their acquisition of The Scruggs Companies (“Scruggs"), a provider of critical products and services to the municipal water and wastewater industry.

Headquartered in Houston, TX, Scruggs is a provider of essential flow control products – spanning valves, actuators, and automation components – through partnerships with equipment manufacturers. Additionally, Scruggs performs repair and maintenance services for water and wastewater infrastructure and components through its services division, Neil Technical Services. Through its broad product and service offering, Scruggs supports its municipal water and wastewater customers through the lifecycle of construction, expansion, and ongoing maintenance of water infrastructure.