M&A Deal Summary

Auxo Investment Partners Acquires Precision Products Group

On October 7, 2020, private equity firm Auxo Investment Partners acquired manufacturer Precision Products Group from Long Point Capital and Greyrock Capital Group

Acquisition Highlights
  • This is Auxo Investment Partners’ 4th transaction in the Manufacturing sector.
  • This is Auxo Investment Partners’ 7th transaction in the United States.
  • This is Auxo Investment Partners’ 1st transaction in Maryland.

M&A Deal Summary
Date 2020-10-07
Target Precision Products Group
Sector Manufacturing
Buyer(s) Auxo Investment Partners
Sellers(s) Long Point Capital
Greyrock Capital Group
Deal Type Secondary Buyout
Advisor(s) Brown Gibbons Lang & Co. (Financial)

Target

Precision Products Group

College Park, Maryland, United States
website
Precision Products Group with operations in the U.S and China is the parent company of Paramount Tube (Paramount) and Euclid Medical Products (Euclid). PPG is a manufacturer of precision tube and spring products for automotive, electrical insulation, medical and pharmaceutical, specialty packaging, and many other industrial and consumer products. Precision Products Group was founded in 1980 and is based in College Park, Maryland.

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Buyer(S) 1

Buyer

Auxo Investment Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2016
Size Small
Type Sector Agnostic
DESCRIPTION

Auxo Investment Partners is an operationally-focused private investment firm that targets acquisitions of North American manufacturing, distribution, and business services companies. Auxo prefers profitable businesses ($2 to $20 million of EBITDA) and has a special interest in owner-operators seeking retirement or facing succession issues. Auxo Investment Partners was formed in 2016 and is headquartered in Grand Rapids, Michigan.

DEAL STATS #
Overall 7 of 15
Sector (Manufacturing) 4 of 7
Type (Secondary Buyout) 2 of 3
State (Maryland) 1 of 1
Country (United States) 7 of 14
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-21 Andrie

Muskegon, Michigan, United States

Andrie is a maritime company which focuses on marine transportation and specialized marine solutions. Andrie was founded in 1988 and is based in Muskegon, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-22 GC Dies

Elmhurst, Illinois, United States

GC Dies is a steel rule die manufacturer based in Elmhurst, Illinois. The Company, which has 50 employees and operates from a 37,500-square foot facility, focuses on flat corrugated, rotary corrugated and flat steel rule die production.

Buy -

Seller(S) 2

SELLER

Long Point Capital

Royal Oak, Michigan, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1998
PE ASSETS 315M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Long Point Capital is a private equity firm that targets investments in mid-sized North American companies where current management looks to continue on with the business. Sectors of interest include manufacturing, distribution, and services. Long Point prefers to be the lead investor and looks for businesses generating sales of $30 to $200 million and EBITDA of at least $5 million. Prospective transaction types include recapitalizations, growth equity investments, industry consolidations, generational ownership changes, and management buyouts. Long Point was formed in 1998 and is based in Royal Oak, Michigan with an additional office in New York City.

DEAL STATS #
Overall 20 of 21
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 10 of 11
State (Maryland) 1 of 1
Country (United States) 19 of 20
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-13 CentriLogic

Mississauga, Ontario, Canada

CentriLogic is a provider of managed hosting, cloud computing, and advanced IT outsourcing solutions. CentriLogic was founded in 2007 and is based in Mississauga, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-09 Woolpert

Dayton, Ohio, United States

Woolpert, Inc. is an international architecture, engineering, and geospatial (AEG) firm that delivers value to clients by strategically blending engineering excellence with leading-edge technology and geospatial applications. Woolpert was founded in 1911 and is based in Dayton, Ohio.

Sell -
SELLER

Greyrock Capital Group

Walnut Creek, California, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Greyrock Capital Group provides mezzanine debt and equity capital to finance buyouts, recapitalizations and growth needs of middle market companies. Greyrock looks to invest between $8 and $40 million of equity and/or junior capital in companies with minimum revenues of $10 million and at least $2 million of EBITDA. Greyrock prefers companies in defensible markets with low cost structures. Greyrock Capital was formed in 2002 and has offices in San Francisco, California; Chicago, Illinois; and Westport, Connecticut.

DEAL STATS #
Overall 41 of 45
Sector (Manufacturing) 4 of 4
Type (Secondary Buyout) 17 of 18
State (Maryland) 1 of 1
Country (United States) 41 of 45
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-09 UAS Laboratories

Wausau, Wisconsin, United States

UAS Laboratories is a research, development company that manufactures probiotic nutritional supplements. UAS Laboratories was founded in 1979 and is based in Wausau, Wisconsin.

Sell $530M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-04 Kahunaverse Sports Group

Surrey, British Columbia, Canada

Kahunaverse Sports Group evolved through the merger of Big Kahuna Sport Company and Home Run Sports in 2017, and the subsequent acquisition of Soccer Express in 2018 to become Canada's largest Team product provider to academic institutions, sports associations, clubs, and leagues, focusing on team wear and team equipment sales within key sports categories. Kahunaverse Sports Group was founded in 2017 and is based in Surrey, British Columbia.

Buy -
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