Auxo Investment Partners Acquires Great Lakes Shipper Andrie

Private investment firm Auxo Investment Partners is partnering with the Andrie family with an investment in Andrie LLC, a Michigan-based bulk transporter of specialty products including liquid asphalt, cement, light oil petroleum products and calcium chloride, according to an Auxo news release.

Terms were not disclosed. The deal was Auxo’s sixth acquisition in 16 months and follows the December 2017 acquisition of M/G Transport Services, a leading dry-bulk transportation and logistics company based in New Orleans.

Andrie LLC, founded in 1988, is a Great Lakes shipper with 19 vessels, a cargo capacity of more than 125,000 tons and a workforce of 150. Asphalt makes up most of the company’s shipping volume, followed by cement, light oil products and calcium chloride — all of which require special handling, according to Auxo.

Auxo Investment Partners is a Grand Rapids, Mich.-based firm that partners with owners and management teams of companies in transition. — Transport Topics