A local private investment firm has acquired a Michigan maker of metal stampings for the fastener market. Grand Rapids-based Auxo Investment Partners said this week it acquired Warren-based Prestige Stamping.“We were immediately impressed with Prestige and by the tenacity with which the company pursues process improvement, quality and growth,” said Jack Kolodny, managing partner, Auxo Investment Partners. “It’s clear the company’s values are closely aligned with ours, and its success has been driven by the Rink family’s relentless pursuit of excellence and customer service.”
Auxo Investment Partners, a Grand Rapids-based private-equity firm, announced Monday morning that it has bought a controlling interest in Warren-based Prestige Stamping Inc., a manufacturer of custom-engineered stampings for the fastener industry. Terms were not announced. The acquisition is the fifth for Auxo since its founding in October 2016 and the first since the September closing of the firm's first investment fund, Auxo Growth Holdings I LLC.
Auxo Investment Partners made an investment in Prestige Stamping Inc, a Michigan-based maker of stampings for the fastener industry. Financial terms weren’t disclosed.
Private equity firm Auxo Investment Partners has completed its fifth acquisition in 13 months with a deal for a Warren-based stamping manufacturer. The deal for Prestige Stamping Inc. marks Auxo's first foray into custom engineered stampings for the fastener industry.