Private investment firm Auxo Investment Partners announced today that it has acquired Saylor Technical Products, LLC, which will operate under the Precision Products Group (PPG) platform and brand. PPG is the parent company of Paramount Tube, Breyden Products and Euclid Medical Products.
The acquisition, PPG’s second under Auxo’s ownership, advances Auxo’s and PPG’s plans to build a diversified platform of niche manufacturers with defensible market positions that unite ecofriendly solutions, mechanical strength and material know-how under a collective focus on heat solvation, thermal control and electrical insulation. The platform is seeking additional acquisitions with like-minded manufacturers focused on the electrical, defense, medical and consumer packaged goods sectors.
Headquartered in Grand Rapids, Ohio, Saylor began as a manufacturer of a flexible, non-metallic, wire and hose protection (sleeving and loom) and has since expanded into specialty cords and tapes. Saylor primarily serves the antique auto, aerospace, wire and cable and electrical markets.
“I am so thrilled to bring the Saylor Technical Products team into the PPG group,” said Mike Zuber, the owner of Saylor. “Saylor’s core competencies of producing and selling products to the aerospace and motor and transformer industries will complement PPG’s aim of becoming a holistic solutions provider to its current customer base.”
Added Chad Heathco, CEO of Precision Products Group: “We are excited to welcome Mike and his highly skilled team at Saylor to the PPG family. Their extensive expertise and strong track record of developing innovative and reliable technical solutions will further enhance PPG’s ability to meet its customers’ needs and bolster its current growth trajectory.”
Specialty Manufacturing Platform Poised for Growth
In addition to driving continued growth in the electrical market, the combination of Saylor and PPG’s Breyden Products division is expected to greatly expand opportunities and market share in the aerospace industry. Pairing the former’s product line of military tapes and with the latter’s product line of braided lacing tapes will offer customers a wider range of product solutions that improve product quality and performance.
“We are always looking for partners who share our values and deliver exceptional customer experiences. Mike and his team at Saylor embody these principles, and we are excited to see how their manufacturing expertise and commitment to customer satisfaction will help PPG continue to thrive in the market,” said Auxo Co-Founder and Managing Partner Jeff Helminski.
Advisors on the transaction included Miller Johnson PLC, Barnes & Thornburg LLP, BDO USA LLP, Marsh & McLennan, and Aon Plc.
With the addition of Saylor, Auxo has acquired 20 companies. Recent investments include TACK Electronics and Morgan Royce Industries, two wire harness and cable assembly manufacturers that joined Golden State Assembly in Auxo’s Wire Harness and Cable Manufacturing platform. Auxo’s Precision Products Group, a brand of specialty manufacturers producing niche products, consists of Breyden Products, Euclid Medical, Saylor Technical Products and Paramount Tube. In late 2021, Auxo acquired Genesis Rail Services and Ferrovia Services as part of its burgeoning Railroad Maintenance platform. Additionally, the firm has acquired Bernal Rotary Dies, Atlas Die, AtlasFlex, Midway Rotary Die Solutions, DieCraft Engineering & Manufacturing, and GC Dies, which comprise its Impact Converting and Systems Solutions platform. Its marine platform, Auxo Marine, was formed via the acquisitions of M/G Transport Services (which sold to Maritime Partners in Q4 2022) and Andrie. Other acquisitions include Altus industries, Prestige Stamping and its sister company, Securit Metal Products.
A Long-Term, Collaborative Approach
Auxo continues to pursue additional opportunities in the specialty manufacturing space, and more broadly seeks to partner with companies that meet the following investment criteria:
- North America-based
- Manufacturing, industrial, value-added distribution or business services industries
- EBITDA (cash flow) of $2-$20 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, Michigan-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.
