Auxo Investment Partners Strengthens Market Position with Cindus Acquisition
In a significant move to solidify its status in the insulation materials market, Auxo Investment Partners has announced the acquisition of Cindus Corporation, known for its manufacture of crepe paper utilized in industrial and electrical applications. This acquisition comes as Precision Products Group (PPG), a subsidiary of Auxo, looks to bolster its position as a key supplier amid the rapidly growing demand for electrical transformer supplies.
Cindus, based in Cincinnati, Ohio, has served the industry for nearly 25 years, garnering a reputation for unwavering commitment to quality and service. Tom Moore, CEO of PPG, expressed enthusiasm about the integration of Cindus into their operations, emphasizing the alignment of values and vision for quality enhancement. He noted, "We are thrilled to welcome Cindus to PPG. Cindus has been a key supplier to the industry for a long time, and we’re excited to combine forces."
Tim Shaw, Chief Commercial Officer at PPG, highlighted the surge in demand for power infrastructure globally, predicting that the need for effective insulation materials will escalate in the coming years. "Transformer manufacturers have faced considerable challenges in satisfying demand and have encountered shortages of critical raw materials. Our investment in capacity expansion will enhance Cindus' output of insulating paper, allowing us to meet customer requirements efficiently," he said.
The operational management structure of Cindus will remain intact, allowing existing leadership to continue guiding its growth trajectory. John Hennessey, Vice President of Sales at Cindus, shared optimism about partnering with PPG, stating, "It was important for us to find a partner that aligns with our dedication to quality and customer service. This partnership will empower us to expand our production capacity while ensuring that we continue delivering exceptional service to our clients."
Auxo Investment Partners, known for its strategic investments in North American based manufacturing and service industries, has identified Cindus as a strategic addition that will enhance its portfolio. Jeff Helminski, Managing Partner at Auxo, remarked on the acquisition's significance, stating, "The proven expertise of Cindus can help us broaden our range of engineered solutions, allowing us to cater to the evolving needs of our client base and the marketplace at large. Our commitment to Cindus's growth as part of the PPG family is unwavering."
Established in Grand Rapids, Michigan, Auxo Investment Partners focuses on identifying opportunities where it can provide long-term, sustainable growth. The firm aims to partner with companies during transition phases, making Cindus a perfect fit in its portfolio of businesses that span various sectors, including industrial and value-added distribution. Their investment strategy places significant emphasis on retaining majority-control, while being open to select minority opportunities, ensuring that client needs are prioritized at every step of the partnership.
As the demand for advanced insulation materials continues to soar, the acquisition of Cindus Corporation positions PPG to not just meet but exceed market expectations, leveraging both companies' strengths to amplify efficiency and production volumes in an increasingly competitive environment. With a focus on innovation and growth, this acquisition signifies just the beginning of a promising chapter for both PPG and Cindus, heralding a renewed commitment to quality and service in the insulation materials market.
Cindus, based in Cincinnati, Ohio, has served the industry for nearly 25 years, garnering a reputation for unwavering commitment to quality and service. Tom Moore, CEO of PPG, expressed enthusiasm about the integration of Cindus into their operations, emphasizing the alignment of values and vision for quality enhancement. He noted, "We are thrilled to welcome Cindus to PPG. Cindus has been a key supplier to the industry for a long time, and we’re excited to combine forces."
Tim Shaw, Chief Commercial Officer at PPG, highlighted the surge in demand for power infrastructure globally, predicting that the need for effective insulation materials will escalate in the coming years. "Transformer manufacturers have faced considerable challenges in satisfying demand and have encountered shortages of critical raw materials. Our investment in capacity expansion will enhance Cindus' output of insulating paper, allowing us to meet customer requirements efficiently," he said.
The operational management structure of Cindus will remain intact, allowing existing leadership to continue guiding its growth trajectory. John Hennessey, Vice President of Sales at Cindus, shared optimism about partnering with PPG, stating, "It was important for us to find a partner that aligns with our dedication to quality and customer service. This partnership will empower us to expand our production capacity while ensuring that we continue delivering exceptional service to our clients."
Auxo Investment Partners, known for its strategic investments in North American based manufacturing and service industries, has identified Cindus as a strategic addition that will enhance its portfolio. Jeff Helminski, Managing Partner at Auxo, remarked on the acquisition's significance, stating, "The proven expertise of Cindus can help us broaden our range of engineered solutions, allowing us to cater to the evolving needs of our client base and the marketplace at large. Our commitment to Cindus's growth as part of the PPG family is unwavering."
Established in Grand Rapids, Michigan, Auxo Investment Partners focuses on identifying opportunities where it can provide long-term, sustainable growth. The firm aims to partner with companies during transition phases, making Cindus a perfect fit in its portfolio of businesses that span various sectors, including industrial and value-added distribution. Their investment strategy places significant emphasis on retaining majority-control, while being open to select minority opportunities, ensuring that client needs are prioritized at every step of the partnership.
As the demand for advanced insulation materials continues to soar, the acquisition of Cindus Corporation positions PPG to not just meet but exceed market expectations, leveraging both companies' strengths to amplify efficiency and production volumes in an increasingly competitive environment. With a focus on innovation and growth, this acquisition signifies just the beginning of a promising chapter for both PPG and Cindus, heralding a renewed commitment to quality and service in the insulation materials market.
Topics Financial Services & Investing）
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