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.
The "secret sauce" that separates Auxo Investment Partners from other private equity firms comes down to hard work. That’s according to Jeff Helminski, a managing partner at the Grand Rapids-based Auxo, which has completed four deals in the last 12 months, with more on the way. In the dealmaking process, Auxo seeks to hold itself to "the highest standard in the industry" by deploying a strategy that reflects the values of the partners, whose aim is to help companies unlock their growth potential.
A two-year-old private equity firm has finished raising $50 million for its inaugural fund. Grand Rapids-based Auxo Investment Partners said yesterday it closed the investment fund Auxo Growth Holdings I. The firm raised the committed capital from family offices and institutional investors.
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.
Closing fundraising for a $50 million private equity fund gives Auxo Investment Partners a year-long breather before preparing to raise capital for a second fund. Presuming Grand Rapids-based Auxo Investment Partners maintains its present pace of investments, Managing Partner Jeff Helminski expects the firm to return to fundraising mode as soon as a year from now.
Auxo Investment Partners, a Grand Rapids, Mich.-based private equity firm, raised $50 million for its debut fund.