Published in Manufacturing
Auxo Investment Partners makes strategic acquisition of Indiana manufacturer COURTESY PHOTO

Auxo Investment Partners makes strategic acquisition of Indiana manufacturer

BY Wednesday, June 29, 2022 06:12pm

Grand Rapids private equity firm Auxo Investment Partners has acquired an Indiana-based manufacturer of braided lacing tapes, twines, cords and sleeving for the electrical, defense and aerospace markets.

Breyden Products Inc. will operate under the Indianapolis-based Precision Products Group Inc., the parent company of Paramount Tube and Euclid Medical Products that Auxo acquired in 2020.

Auxo co-founder and Managing Partner Jeff Helminski said Breyden Products’ portfolio will fit well with Paramount Tube, which makes spiral-wound and extruded tubular products that are part of the insulation used in electric motors.

“It’s a very strategic addition to Paramount Tube,” Helminski said. “This has both direct overlap in terms of the customers and the products that Paramount’s products are in, but there’s a number of end markets and products that each of the two companies serve respectively that the others don’t that give us a bunch of commercial overlap where we can cross-sell Paramount products now to Breyden customers, and Breyden products to Paramount customers.”

Breyden Products employs about 50 people. Terms of the deal were undisclosed.

Leaders of the two companies have known each other for years, and the opportunity to acquire Breyden Products came as founder and President Jay Miller sought to retire, Helminski said.

“The timing aligned, the values of the companies aligned, and the markets on the commercial side aligned, so it was a really pretty seamless and obvious fit to put these two together,” he said.

The acquisition also further opens the aerospace and military markets and a “whole world of strategic acquisitions that … will make sense to bring in if any of them are relatively smaller,” Helminski said.

“Now that we have the two companies together, there’s a whole line of acquisition targets that make a lot of sense for us,” he said.

Auxo Investment Partners’ advisers and lenders on the deal include Miller Johnson PLC, Barnes & Thornburg LLP, BDO USA LLP, Marsh & McLennan, Aon Plc, Krauter & Co., Thomas Brady & Associates, Mercantile Bank, and Greyrock Capital.

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