25 February 2019

Miller Johnson Represents Auxo Investment Partners in Transaction with Andrie LLC

The Transaction
Miller Johnson represented Auxo Investment Partners in acquiring a majority stake in Andrie LLC. Andrie is a Michigan-based, globally-recognized shipping leader on the Great Lakes with a fleet of 19 vessels, cargo capacity of over 125,000 tons and a workforce of 150. Stan Andrie, who helmed the company through decades of growth, will remain as CEO. Andrie, along with New Orleans-based M/G Transport Services (acquired by Auxo in December 2017), will operate under the newly created Auxo Marine Platform. While Andrie and M/G transport different products over different geographies, both are “best in class” players in their respective spaces.

“The Andrie family has built a strong company – which is clear given its unrelenting focus on highly trained crews, company culture and unrivaled customer service,” said Auxo Managing Partner Jeff Helminski. Auxo’s flexible capital model allows for long-term growth-oriented decision-making without artificial deadlines. The structure was designed for family businesses facing a generational hand-off or seeking outside capital or partners to fuel growth.

Erik Daly led Miller Johnson’s transaction team of David Hall (Corporate Finance), Loic Dimithe (Corporate M&A and Finance), Anne Marie Carson (Corporate M&A), Neil Williams (Tax), Mary Tabin (Employment), Kelley Stoppels (Labor and Employment), Tripp VanderWal (Employee Benefits) and Grant Schertzing (Real Estate). Including the Andrie transaction, the Miller Johnson team has worked closely with Auxo in its acquisition of six companies over a 16-month period.

Auxo Investment Partners
( Auxo Investment Partners invests in North America-based manufacturing, industrial, value-added distribution or business services with EBITDA of $2-$15 million. They partner with owner-operators seeking retirement or family succession planning solutions or existing teams seeking to grow their businesses. Auxo prefers majority-control investments and will consider select minority-partner opportunities.

(  Andrie serves a diverse marine customer base from its headquarters in Muskegon, MI by executing Great Lakes projects and ventures from the Atlantic to the Pacific, from Canada to the Gulf of Mexico. Andrie works extensively with global customers as a bulk transporter of specialty products, including liquid asphalt, cement, light oil petroleum products and calcium chloride.

Miller Johnson’s Mergers and Acquisitions Group

Miller Johnson’s M&A practice group collaborates with clients and their advisors to structure, negotiate and close deals and to navigate the various challenges that can arise in the context of mergers, acquisitions, dispositions and other business combination or investment transactions.

Miller Johnson is top listed for mergers and acquisitions with U.S. News & World Report’s Best Law Firms and is ranked by Chambers USA. At The M&A Advisor’s national awards and the ACG M&A Deals and Dealmakers regional awards, we are consistently involved in deals honored as winners and finalists. For more information, please contact Erik Daly at (616) 831-1723 or Bob Wolford at (616) 831-1726.