SHELBY TOWNSHIP, Mich.—Private investment firm Auxo Investment Partners has acquired Avon Machining, a Shelby Township-based precision manufacturer of complex machined parts. The acquisition is the fourth platform investment made through Auxo’s Michigan Opportunity Fund, Auxo said in a release.
Parts manufactured by Avon Machining are reported to include high precision gears, transmission parts, bearings, housings, and axle shafts. The parts are supplied to construction, mining, agriculture, industrial, electrical vehicle, chemical, oil and gas, and defense customers, the company said.
Avon Machining, formerly known as Avon Gear Company, has been in operation since 1974. With its leading-edge facility and highly skilled workforce, the company has established a reputation for delivering high quality precision parts, according to Auxo. Its corporate strategy revolves around attracting and training top-notch machinists while investing in state-of-the-art CNC equipment. In addition, a people-first culture has earned Avon the honor of being named one of Michigan’s top workplaces by The Detroit Free Press the last five years, according to the release.
“We are thrilled to welcome Avon Machining to our growing family of companies in the Michigan Opportunity Fund,” said Jeff Helminski, managing partner of Auxo Investment Partners, in the release. “Avon’s precision machining expertise, particularly their exceptional gear grinding capabilities, is unrivaled. We are excited to collaborate with their talented team, to develop innovative solutions that meet the demands of their diverse customer base.”
Avon Machining will continue to be led by its current CEO, Chad Fietsam, who will also continue to be a significant owner of the business.
“We are excited to join forces with Auxo Investment Partners. With their resources and commitment to growth, we will continue to build on Avon Machining’s legacy of quality, innovation, and customer satisfaction, while expanding our capabilities and offerings,” said Fietsam, in the release.
Auxo’s Michigan Opportunity Fund is dedicated to preserving local ownership by strategically investing Michigan capital in Michigan-based businesses, particularly those that are family-owned and possess strong growth potential. The fund operates with a focus on operational excellence and a long-term partnership approach, aiming to generate significant growth for its portfolio companies, Auxo said.
The Michigan Opportunity Fund actively seeks investment opportunities across diverse sectors, including manufacturing, technology, healthcare, and more. Leveraging its extensive network, industry expertise, and capital resources, the fund aims to foster the growth and expansion of Michigan businesses, ensuring their sustained success and positive impact on the local economy.