Auxo acquires manufacturers MRI and TACK Electronics

• Larry Johnston and Todd Maines, the respective CEOs of MRI and TACK, will remain in their current roles
• MRI is headquartered in Fremont, California and TACK is based in Grand Rapids, Michigan
• Auxo targets the manufacturing, industrial, distribution and business services sectors

Auxo Investment Partners has acquired Morgan Royce Industries and TACK Electronics. No financial terms were disclosed.

MRI and TACK are manufacturers of custom wire harnesses, cable assemblies and box builds. Larry Johnston and Todd Maines, the respective CEOs of MRI and TACK, will remain in their current roles.

MRI is headquartered in Fremont, California and TACK is based in Grand Rapids, Michigan.

“The customers that TACK and MRI serve are some of the most exciting companies driving innovation in their respective industries. Together, GSA, TACK and MRI will be well-positioned to serve these customers and capitalize on the adoption of their products,” said Jack Kolodny, managing partner of Auxo Investment Partners, in a statement. “As part of a common platform, the companies will be able to meet growing demand from new and existing customers, realize new operational efficiencies, and foster deeper relationships across industries.”

Advisors and lenders on the transaction included Miller Johnson PLC, Barnes & Thornburg LLP, BDO USA LLP, Advantage Benefits Group, Aon Plc, Krauter & Co., Strategies Wealth Advisors, Thomas Brady & Associates, and Mercantile Bank of Michigan.

Based in Grand Rapids, Michigan, Auxo targets the manufacturing, industrial, distribution and business services sectors. Auxo was founded in 2016.