Auxo Investment Partners Acquires Avon Machining

Jun 07, 2023

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05 Jun, 2023, 06:00 ET

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SHELBY TOWNSHIP, Mich., June 5, 2023 /PRNewswire/ -- 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."

"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:

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.

Media Contact:Kara Potter616-980-9810[email protected]

SOURCE Auxo Investment Partners