Private investment firm Auxo Investment Partners has acquired Andrie, a Michigan-based Jones Act bulk transporter of specialty products including liquid asphalt, cement, light oil petroleum products, and calcium chloride throughout the Great Lakes.
The deal, terms of which were not disclosed, marks Auxo’s sixth acquisition in 16 months, and builds on the firm’s December 2017 acquisition of M/G Transport Services, a leading dry-bulk transportation and logistics company based in New Orleans.
Andrie has a fleet of 19 vessels, with a cargo capacity of over 125,000 tons and employs 150 people.
“This company has been a big part of my family since its earliest days, so deciding to bring in a new partner wasn’t a decision we took lightly,” says Stan Andrie Jr, who will remain as the company’s CEO. “But I was struck by Auxo Investment Partners’ leadership, Midwest roots and strong ties to the marine industry as a result of its ownership of M/G Transport Services. Not only is this new partnership a cultural fit that will preserve the legacy of what we’ve accomplished, it’s one that will position us for strong growth in the years ahead.”
Andrie LLC was founded by Barbara Andrie, mother of the current CEO. Cement makes up most of the company’s shipping volume, followed by asphalt, light oil products, and calcium chloride, all of which require special handling. Andrie’s strong safety record with those products as well as its experienced and dedicated management team have led to strong relationships with its customers.
