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WA-25033

Bain Capital / FDHWA-25033

View on ACCC

Processing timeline

8

days

Filed

17 June 2026

Notification waiver determination published

Decision

25 June 2026Notification waiver determination published
Type
Waiver
Outcome
Approved
Stage
Waiver application
Status
Assessment completed

Parties

Acquirer(s)

BCPE Lightning Buyer, Inc. US incorporation number - 10644291

Target(s) or Vendor(s)

FDH Group Intermediate Holdings, LP US incorporation number - 6336375, FDH Group Intermediate, Inc. US incorporation number - 6310370, FDH Defense Aftermarket, Inc. US incorporation number - 6267156

Other parties

Bain Capital Investors, LLC US incorporation number - 3229725, Audax Management Company, LLC US incorporation number - 3047055

Summary

Bain Capital funds, through BCPE Lightning Buyer, Inc., are acquiring 100% of the shares in FDH from FDH Group Intermediate Holdings, LP. FDH is a global supply chain partner and distributor of aerospace and defence components, specialising in hardware, electrical, and consumable products.

Acquisition details

The application concerns the proposed acquisition of sole control over FDH Defense Aftermarket, Inc. and its subsidiary, and FDH Group Intermediate, Inc. and its direct and indirect subsidiaries (collectively, FDH ), by funds managed and/or advised by Bain Capital Investors, LLC ( Bain Capital ). Pursuant to a Stock Purchase Agreement, BCPE Lightning Buyer, Inc, a special purpose vehicle owned and controlled by funds managed and/or advised by Bain Capital, will acquire 100% of the shares in FDH from FDH Group Intermediate Holdings, LP. Bain Capital is a private investment firm that invests, through its family of funds, in companies across a number of industries, including information technology, healthcare, retail and consumer products, communications, financial services and industrial/manufacturing. FDH is a global supply chain partner and distributor of aerospace and defence components, specializing in hardware, electrical, and consumable products. It is headquartered in California, and supplies original equipment manufacturer and aftermarket customers around the world with inventory management and logistics. FDH operates across three business segments: FDH Hardware (distributing fasteners, fittings, bearings, and other hardware), FDH Electronics (distributing interconnect and electronic components, cable assemblies, and custom wire harnesses), and FDH Defense Aftermarket (distributing aftermarket components). FDH is ultimately controlled by Audax Management Company, LLC, a private equity platform headquartered in Boston that focuses on investing across the North American middle market.

Industry

Broad:Professional & Business Services

Decisions and key events

25 June 2026Notification waiver determination publishedAttachmentPDF139.3 KB

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