Midway Rotary Die Solutions has a new owner. Grand Rapids-based private investment firm Auxo Investment Partners announced Tuesday that it has acquired the die manufacturer. Midway designs, manufactures and sharpens dies for automotive, packaging, medical and food processing purposes.
In a competitive M&A environment, it is not enough for private equity firms to win deals just on capital alone. Potential buyers are increasingly seeking operating partners to work with the companies they acquire. Auxo Investment Partners, a lower middle market private equity firm out of Grand Rapids, Michigan, is one case in point. In 2017, Auxo acquired dry barge shipper M/G Transport Services and bought on industry veteran John Binion to serve as the target's operating partner. "Someone like John has enormous direct industry experience that none of us have," says Auxo co-founder Jeff Helminski.
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.
Williamston-based Midway Rotary Die Solutions has come under new private equity ownership, MiBiz has learned. In the latest deal for Grand Rapids-based Auxo Investment Partners, Managing Partner Jeff Helminski says that the firm’s investment in the Williamston-based manufacturer of crush cut dies will add more capabilities to the company’s die manufacturing platform. Included in the acquisition are 50 employees from Midway and a roughly 20,000-square-foot facility in Williamston, Helminski said, adding that the 33-year-old company is the "quintessential story" of two entrepreneurs, Richard and Betsy Seeley, who "found their business and poured their professional life’s work" into building a "world-class organization."
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.