Auxo Investment Partners has acquired Elmhurst, Illinois-based GC Dies, a steel rule die manufacturer. No financial terms were disclosed.
October 22, 2020 (Elmhurst, Ill.) – Private investment firm Auxo Investment Partners announced today that it has acquired GC Dies, a steel rule die manufacturer based in Elmhurst, Ill., a suburb of Chicago. The deal marks Auxo’s ninth acquisition in the firm’s inaugural investment fund, Auxo Growth Holdings I LLC, which closed in the fall of 2018. It is Auxo’s fifth acquisition under the Auxo Die Holdings platform, a growing portfolio of industry-leading cutting die manufacturers the investment firm has acquired in recent years.
Founded in 2000, GC Dies is one of the leading steel rule cutting die manufacturers in the country. 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.
The purchase of GC Dies follows Auxo’s previous acquisitions of cutting die manufacturers Atlas Die, AtlasFlex, Bernal Rotary Dies, Midway Rotary Die Solutions, and DieCraft Engineering & Manufacturing – and further expands a fully integrated family of converting solution companies, each offering a wide selection of purpose-built dies, tools, systems and technical converting expertise.
Expanding a Fully Integrated Platform of Converting Solution Companies
“We are bringing the industry’s leading converting solution companies together to create the most comprehensive service offering available in the industry, and the addition of GC Dies is an important step in the process,” said Jerry Mosingo, chief executive officer of the Auxo Die Holdings platform. “As we continue to expand – and service many of the world’s leading converting companies – we know our fully integrated solutions can meet virtually any challenge.”
In addition to aligning with increasing customer demand for a single-source, full-service partner, the acquisition presents an opportunity to modernize Auxo Die Holding’s equipment and manufacturing facilities in Chicago for the expanding platform. Company leaders plan to move Atlas Die’s Chicago operations to Elmhurst, where GC Dies has capacity for continued growth.
Auxo Die Holdings’ platform of converting solution companies featuring a fully integrated, end-to-end service offering will formally unite under a single brand in Q1 2021.
“We’re excited to bring GC Dies into our expanding platform and see great potential to expand its customer footprint,” said Auxo Managing Partner Jeff Helminski. “We believe that adding a corrugate offering further bolsters our efforts to help shape the products that touch the lives of people – everything from heart valves and ventilator tubes to cereal boxes, gaskets and surgical masks.”
“The platform that we’ve assembled in recent years only continues to grow – and this acquisition strengthens our position as a fully integrated family of converting solution companies,” added Auxo Managing Partner Jack Kolodny. “When we considered the full impact of this acquisition, it was obvious that adding GC Dies would make us even more competitive in the Midwest marketplace and enhance our overall platform – which was already the broadest selection of tooling for the converting industry.”
Advisors and lenders on the transaction included Miller Johnson PLC, Barnes & Thornburg LLP, BDO USA LLP, Oxer Capital, Mercantile Bank, Aon Plc, Krauter & Co, Advantage Benefits Group, and Apex Companies LLC.
Auxo previously acquired nine companies, including Bernal Rotary Dies, Atlas Die, AtlasFlex, Midway Rotary Die Solutions, and DieCraft Engineering & Manufacturing, which comprise the Auxo Die Holdings platform. Other acquisitions include Paramount Tube and Euclid Medical, niche manufacturers of custom-engineered spiral wound tube and pharmaceutical packaging; M/G Transport Services, a leading inland barge transportation and logistics company; Prestige Stamping, a high-speed manufacturer of custom engineered stampings for the fastener industry; and Andrie, the premier Great Lakes marine services company serving customers with challenging safety and specialty material handling and transportation requirements.
A Long-Term, Collaborative Approach
Auxo was named after the ancient Greek goddess of growth and the firm seeks to partner with companies that meet the following investment criteria:
Manufacturing, industrial, value-added distribution or business services industries
EBITDA (cash flow) of $2-$15 million
Owner-operators seeking retirement, family succession planning solutions or existing teams seeking to grow their businesses
Prefer majority-control investments but will consider select minority-partner opportunities
About Auxo Investment Partners
Auxo Investment Partners is a Grand Rapids, Mich.-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