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A Fort Wayne-based company is one of two businesses to be acquired by Michigan-based private investment firm Auxo Investment Partners. Financial terms of the deal for Paramount Tube, as well as Euclid Medical Products in Ohio, were not disclosed. Paramount Tube and Euclid Medical are both subsidiaries of Indianapolis-based Precision Products Group Inc.

Private investment firm Auxo Investment Partners announced today that it has partnered with the management team in its acquisition of Paramount Tube and Euclid Medical, which operate under the Precision Products Group (PPG) brand. The deal, terms of which were not disclosed, marks Auxo’s seventh acquisition in the firm’s inaugural investment fund, Auxo Growth Holdings I LLC, which closed in the fall of 2018.

Paramount Tube is the dominant player for mission-critical, small diameter spiral-wound and extruded tubular products known for providing highly customized, tight tolerance and uniquely shaped solutions. Applications include components for electric motors, transformers, fuses, automotive, single-dosage medications, pharmaceutical packaging, eco-friendly consumer packaging, and military ordinances. Euclid Medical designs, engineers and manufactures highly engineered automated single- and multi-dose pharmaceutical packing systems driven by proprietary software for use in hospitals, retail pharmacies, and long-term care facilities. Euclid Medical also converts medical-grade films into consumable unit-dose pharmaceutical packaging.

PPG’s roots date back to 1888 and the invention of the spiral wound straw by Marvin Stone. Today, the company serves customers around the globe from facilities in Indianapolis, Apple Creek, Ohio, Ft. Wayne, Ind., and Huizhou, China.

“We selected Auxo as our partner because of their desire to support our vision for growth and the values our organizations share,” said Dave Hooe, CEO of PPG, who will continue in his leadership role. “We think Auxo’s hands-on investment approach will bolster our ability to aggressively pursue our growth plan and ensure a prosperous future for our company and for our long-standing employees.”

Atlas Flex is proud to be partnering with NorthStar Nameplate by donating a few Eagle Dies that are being used to produce components for Powered Air Purifying Respirators (PAPR) being manufactured by A-dec for health-care workers fighting COVID-19. The plastic shields for powered air-purifying respirator helmets are worn by ICU workers treating patients with the coronavirus. Each Eagle Die is final coated with our proprietary PTFE coating to prevent sticking by adhesives

Private investment firm Auxo Investment Partners announced today that it has partnered with the management team in its acquisition of Paramount Tube and Euclid Medical, which operate under the Precision Products Group (PPG) brand.The deal, terms of which were not disclosed, marks Auxo’s seventh acquisition in the firm’s inaugural investment fund, Auxo Growth Holdings I LLC, which closed in the fall of 2018.

Paramount Tube is the dominant player for mission-critical, small diameter spiral-wound and extruded tubular products known for providing highly customized, tight tolerance and uniquely shaped solutions. Applications include components for electric motors, transformers, fuses, automotive, single-dosage medications, pharmaceutical packaging, eco-friendly consumer packaging, and military ordinances. Euclid Medical designs, engineers and manufactures highly engineered automated single- and multi-dose pharmaceutical packing systems driven by proprietary software for use in hospitals, retail pharmacies, and long-term care facilities. Euclid Medical also converts medical-grade films into consumable unit-dose pharmaceutical packaging.

PPG’s roots date back to 1888 and the invention of the spiral wound straw by Marvin Stone. Today, the company serves customers around the globe from facilities in Indianapolis, Apple Creek, Ohio, Ft. Wayne, Ind., and Huizhou, China.

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The COVID-19 pandemic that dismantled daily routines and hammered the economy has forced investors to pivot along with the companies they back financially. As firms work through the pandemic and guide their portfolio companies, constant communication has taken on greater importance, particularly at a time when people are working with heightened anxiety about their safety and uncertainty about the future, said Jack Kolodny, a managing partner at Auxo. Auxo holds regular meetings with portfolio companies, which allows them to share information and best practices for employee safety, cleaning facilities, and ensuring “the messages are getting down to the operators so that everybody understands what’s going on with the company, with the world, and with the policies,” said Chris Merendino, a Vice President at Auxo.