Grand Rapids-based private equity firm Auxo Investment Partners has acquired Securit Metal Products, a manufacturer of solid and semi-tubular rivets in Dowagiac, West Michigan. Terms of the transaction were not disclosed.
The addition of the 70-year-old manufacturer complements Auxo’s previous acquisition of Prestige Stamping in Warren, which produces custom washers and stampings for the fastener industry.
The purchase marks Auxo’s sixth acquisition in the state of Michigan and its 14th overall, reinforcing the investment firm’s commitment to investing in Michigan-based, and largely family-owned, businesses with the goal of preserve their legacy, create and retain jobs, and drive long-term, sustainable value for Michigan communities, according to the company.
Founded in 1952 and based in Michigan for much of its history, Securit manufactures permanent mechanical fasteners known as solid rivets (as well as semi-tubular rivets), which are used in a variety of industrial applications, including semi-trailers, automotive sub-assemblies, boats, bourbon barrels, and cookware (examples of non-permanent fasteners include screws, nails, and bolts).
“Getting to know the Auxo team, we felt confident about what working with them would mean for our business, our employees and our community,” said Bryan Knoll, President of Securit, who will continue in his current role. “We are proud of the close-knit workplace we have established over the past seven decades and are truly excited about how this partnership will strengthen our market position by expanding our sales infrastructure and leveraging new opportunities in coordination. with Prestige Stamping.”
Securit serves many industries and has a strong presence in the trucking industry which requires large quantities of rivets for trailer assembly.
“Securit has built an exceptional reputation for quality of service, speed and delivery, as well as an enviable work culture that you simply don’t see every day,” says Jeff Helminski, co-founder and managing partner of Auxo.
“I’ve never heard customers rave about a supplier the way customers rave about Securit. We are excited to partner with Bryan to further strengthen Securit’s strong position in the industry through the deployment of Auxo’s growth playbook and exploring smart ways to maximize synergies between Securit and its sister portfolio company Prestige Stamping. to improve the company’s infrastructure and operations.