Private equity firm Auxo Investment Partners has completed its fifth acquisition in 13 months with a deal for a Warren, MI-based Prestige Stamping.
The deal for Prestige Stamping marks Auxo’s first foray into custom engineered stampings for the fastener industry.
Prestige CEO Chris Rink will continue to lead the company after the deal.
Currently, Prestige Stampings, which was founded in 1967, employs 120 people and has more than 200 customers, including in the automotive, construction and agriculture industries, as well as other markets where washers and stampings are needed.
Auxo plans to explore ways to expand the Prestige Stamping business into new sectors, including the aviation, aerospace, defense and heavy truck sectors.
Tree Line Capital Partners and Merchant Bank provided debt financing to support the transaction.
