Investors have been on the acquisition trail in the tug and barge sector, with both Vancouver, Wash. headquartered Tidewater Transportation & Terminals and Muskegon, Mich. based Andrie, Inc. finding new owners.
A local private investment firm has acquired a marine transporter of bulk specialty products in the region. Grand Rapids-based Auxo Investment Partners is "partnering" with Muskegon-based Andrie, according to Auxo today. This marks Auxo’s sixth acquisition in 16 months, and it joins Auxo’s marine portfolio, along with New Orleans-based M/G Transport Services, a dry-bulk transportation and logistics company.
December 07, 2017 (Grand Rapids, MI) — US private equity firm Auxo Investment Partners has bought dry barge transportation and logistics company M/G Transport Services. Auxo managing partner Fred Tedori said, “MG’s unique business model offers limited exposure to macroeconomic cycles with long-term contracts and stable products and customers, which makes it a perfect fit with our long-term investment strategy.
Private investment firm Auxo Investment Partners announced today that it is partnering with the Andrie family with an investment in Andrie LLC, a Michigan-based Jones Act bulk transporter of specialty products including liquid asphalt, cement, light oil petroleum products, and calcium chloride throughout the Great Lakes. The deal, terms of which were not disclosed, marks Auxo’s sixth acquisition in 16 months, and builds on the firm’s December 2017 acquisition of M/G Transport Services, a leading dry-bulk transportation and logistics company based in New Orleans.
December 07, 2017 (New Orleans, LA) — Private equity firm Auxo Investment Partners (www.auxopartners.com) announced today that it has acquired M/G Transport Services (MG), a leading dry barge transportation and logistics company. Terms of the transaction were not disclosed.
December 07, 2017 (Grand Rapids, MI) — Private equity firm Auxo Investment Partners announced it has acquired M/G Transport Services (MG), a dry barge transportation and logistics company based in New Orleans. "We're excited to work with MG's impressive veteran management team, which has made the company a leader in the inland barge transportation industry," said Auxo Managing Partner Jeff Helminski.