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Report: Audax Group no longer exploring minority stake sale

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Report: Audax Group no longer exploring minority stake sale

Audax Group will not proceed with a potential sale after the private equity company reportedly held discussions with several of its peers, The Wall Street Journal reported.

Originally approached by a potential buyer, the company had been discussing a possible sale for at least the past year, the report said, citing "people familiar with the matter." But the company elected not to sell a stake of itself after talks reportedly did not progress, the report said, adding that the company does not plan to pursue a sale any longer.

Among Audax's several reported suitors was Anteil Capital Partners, which operates out of Credit Suisse Group AG's asset management division, according to the report, which also said that private-equity transactions can be difficult to complete because revenue streams can be unpredictable.

Audax Group had reportedly hired Perella Weinberg Partners LP as an adviser for the potential sale.