GRAND RAPIDS, Mich.—A private equity firm bolstered its portfolio through the addition of two companies in the wire harness and cable industry.
Grand Rapids-based Auxo Investment Partners on Feb. 8 said it acquired Tack Electronics, also based in Grand Rapids, and California-based Morgan Royce Industries (MRI), two manufacturers of custom wire harnesses, cable assemblies and box builds for the semiconductor equipment, aerospace and defense, gaming, medical, transportation and energy equipment industries. Terms of the deals were not disclosed.
MRI manufactures wire harnesses and box builds—complete assemblies of cables, electronic components, and metal/plastic housings—for the semiconductor manufacturing equipment industry. The company also serves customers in the medical equipment, telecommunications and power industries.
The new additions follow Auxo's purchase of wire and harness manufacturer Golden State Assembly and help expand the firm's growing wire platform.