Audax Private Equity has announced it has completed a growth investment in Pyramid Laboratories.

Pyramid, based in Costa Mesa, Calif., is a drug product contract development and manufacturing organization. Founded in 1988, the company provides formulation development, analytical and stability testing, and aseptic fill-finish manufacturing services focused on large molecule therapeutics.

Audax, with private equity offices in Boston, New York and San Francisco, focuses on investments in middle market companies and has a wide flexibility on investment size. Founded in 1999, the firm targets companies within healthcare and several other industries, specifically those generating between $10 million and $50 million in annual EBITDA.

Terms of the investment were not disclosed.