Metal products

Auxo Investment Partners acquires Securit Metal Products

A local private equity firm has acquired a southwest Michigan-based rivet maker.

Based in Grand Rapids Auxo Investment Partners recently acquired Dowagiac Safety metal productsa 70-year-old solid and semi-tubular rivet manufacturer based in the Michiana area.

The terms of the contract are not disclosed.

Auxo said the addition of Securit completes its previously announced acquisition of Prestige Stamping, a Warren-based manufacturer of custom washers and stampings for the fasteners industry.

The purchase marks Auxo’s sixth acquisition in the state of Michigan and 14th overall.

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 trailers trailers, automotive sub-assemblies, boats, bourbon barrels and cooking utensils. (Examples of non-permanent fasteners include screws, nails, and bolts.)

Securit serves many industries including the trucking industry which requires large quantities of rivets for trailer assembly.

“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 Securit President Bryan Knoll, who will continue in his role. current. “We are proud of the united 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.

“Most importantly, we can count on Auxo to be careful stewards of the company with a genuine commitment to our employees and our community, because they live and work here too.”

The deal was attractive to Auxo, the company said.

Jeff Helminsky Courtesy of Auxo Investment Partners

“Securit has built an exceptional reputation for quality service, speed and delivery, as well as an enviable work culture that you just don’t see every day,” said 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 rollout of Auxo’s Growth Book and exploring smart ways to maximize synergies between Securit and… Prestige Stamping to enhance the infrastructure and business operations.

The increased demand for freight services has led many trucking companies to update and expand their tractor-trailer fleets. Simultaneously, the industry is increasingly adopting hook-and-loop freight – a loading technique that reduces the time drivers wait for freight to be loaded and unloaded from trailers, requiring larger trailer fleets.

With these two factors increasing demand for rivets, Securit expects continued growth, given its available manufacturing capacity and “best-in-class” customer service, the companies said.

Advisors and lenders in the transaction included Miller Johnson, Barnes & Thornburg, KSM, BHS Insurance, Strategies Wealth Advisors, Krauter & Co., Thomas Brady & Associates, Miedema Appraisals, Mercantile Bank of Michigan and Oxer Capital.