Capstone Headwaters advised Caliendo-Savio Enterprises, Inc. (“CSE” or the “Company”), a leading provider of promotional merchandise and workwear products, on its sale to Halo Branded Solutions, a portfolio company of Audax  Private Equity.

Founded in 1979 and headquartered in New Berlin, WI, CSE is a branded merchandise agency delivering best-in-class service, worldwide distribution and custom products to leading name brand customers. The Company operates from a 70,000 square feet warehouse that includes creative design offices and over 100 employees. Additionally, the Company offers unique website hosting for many customers’ website and e-commerce order fulfillment needs.

Tom Savio, CEO of CSE, commented, "The team at Capstone Headwaters was responsible for maximizing our value in the market.  They exceeded my expectations and most importantly found the perfect partner in Halo Branded Solutions.”

Paul Janson, COO of Capstone Headwaters, said, “This is a perfect example of a strong strategic fit between buyer and seller leading to a transaction that is compelling for both parties. We are very pleased to have advised and worked closely with CSE to make this combination happen.”

CSE was represented in the transaction by Capstone Headwaters and the law firm of Brownstein Hyatt Farber Schreck, LLP. Terms of the transaction were not disclosed.

About CSE
Founded in 1979 and headquartered in New Berlin, WI, CSE specializes in branded merchandise design and fulfillment primarily for business clients throughout the United States and Europe. CSE creates customized branding solutions and is a one-stop-shop for online promotional merchandise creation and fulfillment. For more information, visit

About Halo Branded Solutions

Headquartered in Sterling, Illinois, HALO Branded Solutions is a leading provider of comprehensive solutions that help companies promote their brands and engage employees serving over 60,000 customers across the United States and Internationally. For more information, visit

About Audax Private Equity

Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Audax has invested $4.5 billion in 112 platform and 640 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. Audax Private Equity is an integral part of Audax Group, an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and San Francisco, Audax Group has over $11.5 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses. For more information, visit the Audax Group website