Grand Rapids-based private investment firm Auxo Investment Partners has acquired Securit Metal Products, a manufacturer of solid and semi-tubular rivets in Dowagiac on the west side of 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-engineered 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 aim of preserving their legacies, creating and retaining jobs, and driving sustainable, long-term value for Michigan communities, the company says.
Founded in 1952 and based in Michigan for much of its history, Securit fabricates permanent mechanical fasteners known as solid rivets (as well as semi-tubular rivets), which are used in a variety of industrial applications, including semi-truck trailers, automotive subassemblies, boats, bourbon barrels, and cookware (examples of non-permanent fasteners include screws, nails and bolts).
“As we got to know the Auxo team, we felt confident about what working with them would mean for our company, our employees, and our community,” says Bryan Knoll, president of Securit, who will continue in his current role. “We are proud of the tightknit workplace that we’ve established over the past seven decades and genuinely excited about how this partnership will bolster our market position by expanding our sales infrastructure and leveraging new opportunities in coordination with Prestige Stamping.”
Securit serves numerous 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 service quality, timeliness, and delivery — as well as an enviable workplace culture that you just don’t see every day,” says Jeff Helminski, co-founder and managing partner of Auxo.
“I have never heard customers rave about a supplier the way customers talk about Securit. We are excited to partner with Bryan to further solidify 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 enhance the company’s infrastructure and operations.”