Private equity firm raises $50M fund
A two-year-old private equity firm has finished raising $50 million for its inaugural fund.
Grand Rapids-based Auxo Investment Partners said yesterday it closed the investment fund Auxo Growth Holdings I.
The firm raised the committed capital from family offices and institutional investors.
“We’ve established tremendous momentum since we launched, and we’re very proud to have strategically attracted value-added investment partners who share our vision of investing in companies for the long-term,” said Jeff Helminski, managing partner, Auxo Investment Partners.
“We’ve been able to build strong relationships with substantial and active family offices who created their wealth in the industries we’re looking to invest in, which offers immense benefits both to Auxo and our portfolio companies.”
Combined with direct co-investment from family offices and modest leverage, the inaugural fund will deploy about $150 million of equity in 10 to 15 companies over the next three years.
Auxo focuses on North America-based companies in the manufacturing, industrial, value-added distribution and business services industries with EBITDA of $1.5-$15 million.
Auxo has acquired four cutting-die manufacturers through its initial fund and direct co-investment: Rochester Hills-based Bernal Rotary Dies; Williamston-based Midway Rotary Die Solutions; and Elkhart, Indiana-based Atlas Chem-Milling and Atlas Die.
It also recently acquired Metairie, Louisiana-based M/G Transport Services, an inland barge transportation and logistics company.
Founded in 2016 by veteran investors and operators Jeff Helminski, Jack Kolodny and Fred Tedori, Auxo Investment Partners is a private investment firm that partners with owners and management teams of companies at transition points in their histories.
Auxo works to instill the infrastructure, processes and talent needed to help the companies grow to their full potential with a long-term investment approach.