As first reported earlier today in a PPB Newslink Breaking News alert, Sterling, Illinois-based distributor HALO Branded Solutions (UPIC: HBS) has been purchased by a partnership between Boston-based investment firm Audax Management Company and HALO senior management. The management team invested alongside Audax in the transaction.

The terms of the deal were not released and no changes in management or operating direction are planned as part of the sale. The company was previously owned by PSP Capital Partners in Chicago and HALO senior management.

“We are very pleased with our new partners at Audax,” says HALO CEO Marc Simon. “They are a prestigious investment firm with a proven track record of building success with their portfolio companies. Their investment in HALO is a direct result of the hard work and industry-leading results our sales force and support team have achieved. This relationship will continue our efforts for profitable growth through investment in world-class sales support, carefully selected strategic acquisitions, and an added emphasis on attracting top-performing industry professionals to the HALO organization.”

Audax Managing Director Timothy S. Mack notes, “We are impressed with HALO’s leadership position in an industry that is positioned for strong growth. The loyalty of their sales team, passion of their support staff, and vision of their leadership team provide an attractive platform for continued impressive financial performance. We are eager to invest in their success.”

Simon adds, “Our team is focused on delivering the greatest value proposition for selling professionals in our industry. Our team’s passion and experience are the real assets in this partnership.”

HALO Branded Solutions employs more than 300 corporate service team members supporting more than 900 account executives working out of more than 125 regional sales offices across the U.S.