Wirenet Image Band
wirenet.org mobile image band

Wire Journal News

Private equity fund extends its wire industry portfolio by acquiring 2 manufacturers

Auxo Investment Partners reported that it has acquired two U.S. manufacturers—TACK Electronics and Morgan Royce Industries (MRI)—for an undisclosed price.

A press release said that the two companies manufacture custom wire harnesses, cable assemblies and box builds for the semiconductor equipment, aerospace and defense, gaming, medical, transportation and energy equipment industries. The additions follow Auxo’s purchase of wire and harness manufacturer Golden State Assembly, and help expand the firm’s growing wire platform.

TACK Electronics, Inc., based in Grand Rapids, Michigan, produces custom wire harnesses and assemblies for a wide variety of electronic applications. Per its website, the business was founded in 1996 by George Maines and his wife Linda in a two-stall garage, and grew over the years. It is now run by their son, Todd Gaines, who later became CEO, and is expected to continue in that role.

Morgan Royce Industries (MRI), based in Fremont, California, was founded in 1991. It specializes in turnkey, and consignment, cable, wire harness, PCP assemblies, box builds, upgrades, reconfigurations, repairs, and more. It is headed by CEO Larry Johnston, who is also expected to remain in that role.

Golden State Assembly provides harnesses and other products for sectors that include automotive, solar, power, medical, semiconductor and agriculture equipment.

Read 741 times Last modified on March 6, 2023