Private equity firm Auxo Investment Partners has made its first acquisitions with the purchases of Atlas Die and Bernal.
Atlas Die, based in Elkhart, Indiana, was founded in 1952 by S. Ray Miller. The company went on to revolutionize steel rule die making with the development and introduction of laser technology into the die making process, and later developed unique flexible rotary die making capabilities. Bernal, founded in 1972, produces complex solid rotary pressure dies, crush cut dies and state-of-the-art, high-volume rotary converting systems for die-cutting, food processing, folding cartons, specialty bandages and alcohol swabs, and other complex products.
Auxo Investment Partners was founded by Jeff Helminski, Jack Kolodny and Fred Tedori, all veteran investors and operators, with an investor-centric business model and a commitment to integrating environmental, social and governance concerns into its investment practices. The firm’s capital comes from a select group of founding partners who invest not only in its portfolio companies, but in the firm itself.
Industry veteran Ken Smott, who will serve as CEO of both Atlas Die and Bernal, described Auxo Investment Partners as, ‘the ideal partner’ to support Atlas’ and Bernal’s next chapter of continued growth in supporting their customers and employees.’
Helminski said: ‘We view ourselves as stewards of our founding partners’ capital and of the legacies of our portfolio companies, their owners and their team members. As such, we’re honored to have the opportunity to assist the teams at Atlas Die and Bernal achieve their full potential by making long-term investments and providing expert operational and strategic support.’
Kolodny added: ‘We see a tremendous opportunity to further grow and scale Atlas Die and Bernal and to drive new sales and revenue growth. We’re also actively pursuing other deals, and we’re confident that our unique hands-on, long-term investment approach will pay off for our investors and our new portfolio companies.’