Grand Rapids-based private investment firm Auxo Investment Partners has acquired Securit Metal Products, a manufacturer of solid and semi-tubular rivets in Dowagiac on the west side of Michigan. Terms of the transaction were not disclosed. The addition of the 70-year-old manufacturer complements Auxo’s previous acquisition of Prestige Stamping in Warren, which produces custom-engineered washers and stampings for the fastener industry.
Grand Rapids-based Auxo Investment Partners said Wednesday, Dec. 15, it acquired Ferrovia Services, an Auburn, Alabama-based provider of railroad and Department of Transportation (DOT) vegetation management services with locations across the U.S. The addition follows Auxo’s recent purchase of Genesis Rail Services, a railroad maintenance company. Founded in 1976, Ferrovia provides mission-critical and regulated vegetation management, inspection and abatement services to North America’s Class I railroads, as well as a variety of Class II, short line, industrial railroad customers, state DOTs and utility providers.
Auxo Investment Partners reached further into the rail industry with the acquisition of Ferrovia Services LLC, an Auburn, Ala.-based railroad vegetation management company. The acquisition follows Grand Rapids-based Auxo’s October acquisition of railroad maintenance company Genesis Rail Services LLC in Bluefield W. Va.
Private equity firm Auxo Investment Partners will add to its existing capabilities in the fastener space with the acquisition of a Michigan-based manufacturer of rivets. The Grand Rapids-based Auxo announced today that it has purchased Securit Metal Products Co., a 70-year-old company based in Dowagiac. The company manufactures both solid and tubular rivets that are used in industries such as automotive, heavy transportation, construction and agriculture. The deal is Auxo’s sixth within the state of Michigan and the company’s 14th overall.
As the Class I railroads implement precision scheduled railroading, the focus is on ensuring the network runs smoothly and efficiently. While the railroads still have maintenance crews, some companies are taking advantage of the industry’s openness to outsourcing the everyday maintenance work. That’s why Auxo Investment Partners, a Grand Rapids, Michigan-based private equity firm specializing in manufacturing, industrial and transportation investments, has acquired two companies that provide railroad maintenance and mechanical services to the freight railroads. These two new acquisitions are Ferrovia Services, an Auburn, Alabama-based provider of vegetation management along railroad infrastructure, and Genesis Rail Services, which provides maintenance of way, mechanical and construction services and is based out of Bluefield, West Virginia, and Roanoke, Virginia. Auxo announced its acquisition of Genesis last month and its acquisition of Ferrovia on Thursday. Auxo says its goal is to integrate the two companies under one platform as a way to cross-sell services and improve offerings to existing customers.
Auxo, a private investment firm, is developing a set of rail maintenance-of-way services through their acquisition of two companies in Q4 2021. First, in October, the company acquired Genesis Rail Services, which is a full-service railroad maintenance company based in Bluefield, W. Va., and Roanoke, Va. Cody Harman, son of company founder Jeff Harman, will retain a minority ownership stake in the company and continue in his role running day-to-day operations. Second, in December, Auxo acquired Ferrovia Services, a provider of railroad and Department of Transportation vegetation management services with locations across the U.S. The company is based in Auburn, Ala.