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 (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.
December 6, 2017 (Grand Rapids, Mich.) — West Michigan private equity firm Auxo Investment Partners has moved into the transport business with the acquisition of a New Orleans-based barge company. In the 50-year-old M/G Transport, the Grand Rapids-based Auxo adds to its portfolio a 50-year-old company that dominates its market and generates strong cash flow to reinvest into the business.
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 06, 2017 (Grand Rapids, Mich.) — Private equity firm Auxo Investment Partners announced today that it has acquired M/G Transport Services (MG), a leading dry barge transportation and logistics company. 'As we celebrate our company’s 50th anniversary, we’re pleased to begin this partnership with Auxo,' said Jack Lordo, who will continue as MG’s chief executive officer.