News

Grand Rapids-based Auxo Investment Partners has acquired Avon Machining, a precision maker of gears, axle shafts and other components, with plans to propel the manufacturer to major growth. The investment firm's acquisition of the Shelby Township-based company comes with a 111,000-square-foot plant and 110 highly skilled machinists, said Jeff Helminski, managing partner at Auxo.

Jeff Helminski of Auxo Investment Partners was sitting in his downtown Grand Rapids office in May 2020, during the early days of the pandemic, when his phone rang with a cold call from a prospective investment partner. Little did Helminski know when he answered the call that the conversation he was about to have would ultimately lead to a transformative moment for the private equity firm Auxo.

A new acquisition boosts Auxo Investment Partners’ growing wire harness and cable manufacturing platform as industry demand continues to grow. The Grand Rapids-based private equity firm recently completed a deal that makes SOS Manufacturing Inc., a Wisconsin-based manufacturer and supplier of custom wire harnesses and cable assemblies, the fourth company in the platform. Terms of the deal were not disclosed.

Private equity firm Auxo Investment Partners has added to a platform of manufacturing companies with a recent deal for Ohio-based Saylor Technical Products LLC. Saylor Technical Products is a maker of flexible wire and hose protection products and specialty cords and tapes for a diverse customer base in the antique automotive, aerospace, wire and cable, and electrical markets. The company’s products are intended to insulate and hold in place electrical components and wire harnesses.

Auxo Investment Partners’ acquisition of a West Michigan manufacturer has both in-state and national growth opportunities for the Grand Rapids private equity firm. Auxo’s deal for Cascade Township–based Tack Electronics Inc. represents more investment potential for the Michigan Opportunity Fund, a $100 million fund led by Auxo executives and several prominent figures in the state’s business community that aims to invest in and grow Michigan-based companies.