Private investment firm Auxo Investment Partners announced today that it has acquired Avon Machining, a Shelby Township, Michigan-based precision manufacturer of complex machining solutions, including high precision gears, transmission parts, bearings, housings, and axle shafts for the construction, mining, agriculture, industrial, electrical vehicle, chemical, oil and gas, and defense industries. This acquisition is the fourth platform investment made through Auxo's Michigan Opportunity Fund.
Avon Machining, formerly known as Avon Gear Company, has been in operation since 1974.With its cutting-edge facility and highly skilled workforce, the company has established a reputation for delivering high quality precision parts. Their corporate strategy revolves around attracting and training top-notch machinists while investing in state-of-the-art CNC equipment, ensuring their continuous leadership in the industry. Additionally, a people-first culture has earned Avon the honor of being named one of Michigan's top workplaces by The Detroit Free Press the last five years.
"We are thrilled to welcome Avon Machining to our growing family of companies in the Michigan Opportunity Fund," said Jeff Helminski, Managing Partner of Auxo Investment Partners. "Avon's precision machining expertise, particularly their exceptional gear grinding capabilities, is unrivaled. We are excited to collaborate with their talented team, to develop innovative solutions that meet the demands of their diverse customer base."
The Company will continue to be led by its current CEO, Chad Fietsam, who will also continue to be a significant owner of the business. "We are excited to join forces with Auxo Investment Partners. With their resources and commitment to growth, we will continue to build on Avon Machining's legacy of quality, innovation, and customer satisfaction, while expanding our capabilities and offerings," said Chad Fietsam, CEO of Avon Machining.
About Auxo's Michigan Opportunity Fund
Auxo's Michigan Opportunity Fund is dedicated to preserving local ownership by strategically investing Michigan capital in Michigan-based businesses, particularly those that are family-owned and possess strong growth potential. The fund operates with a focus on operational excellence and a long-term partnership approach, aiming to generate significant growth for its portfolio companies.
The Michigan Opportunity Fund actively seeks investment opportunities across diverse sectors, including manufacturing, technology, healthcare, and more. Leveraging its extensive network, industry expertise, and capital resources, the fund aims to foster the growth and expansion of Michigan businesses, ensuring their sustained success and positive impact on the local economy.
Other key investment criteria for the Michigan Opportunity Fund include:
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Existing teams seeking to grow the business or founder-led and family-owned businesses seeking retirement or family-succession planning solutions
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Companies with revenue of $10 to $200 million; EBITDA (cash flow) of $2 to $20 million
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Range of investments that include majority control equity, as well as minority equity, subordinated debt, and distressed situations to allow the fund to serve the broad range of capital needs of Michigan businesses
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No limitation on investment timeframes allowing for a perpetual ownership mindset in growing great businesses
About Avon Machining
Avon Machining specializes in manufacturing high precision components serving aerospace & defense, construction & mining, agriculture, heavy truck, and oil & gas. Avon differentiates itself through its specialized capabilities, highly skilled personnel, and desire for continuous improvement. Avon continues to invest in the heart of the company. Avon adopted a people-first culture, guided by the simple core principle now known as our number one rule “treat others the way you want to be treated”. Understanding this philosophy is based upon purpose and values, it became our catalyst for change. We believe investing in a people-first culture is the true blueprint in quantifying our business success. Our success has been evident by being named a Top 100 Workplace 5 consecutive years in a row!
About Auxo Investment Partners
Auxo Investment Partners is a Grand Rapids, Michigan-based private investment firm that partners with owners and management teams of companies at transition points in their history. Auxo's flexible capital model allows for long-term, growth-oriented decision-making without artificial deadlines. The structure was specifically designed for family businesses facing a generational transition or management teams seeking a partner to fuel growth and achieve their full potential with a long-term investment approach. Auxo's unique philosophy aligns the interests of its companies, their employees, the communities in which they are located and its investors to achieve optimal outcomes for all. As our name reflects, we are not merely investors, but partners. For more information, please visit www.auxopartners.com.