Auxo Investment Partners sells marine transportation company

Jeff Helminski. Courtesy Auxo Investment Partners

A local private equity firm recently closed the sale of one of its portfolio companies.

Auxo Investment Partners said it completed a successful exit from its investment in M/G Transport Services through a sale to Maritime Partners, both based in Louisiana. Terms of the deal were not disclosed.

Acquired by Auxo in 2017, M/G is a provider of marine transportation services in the Lower Mississippi River and along the West Canal to Houston, Texas.

“This is an ideal outcome for all parties. Maritime Partners gets a great business with a strong management team, M/G’s management team gets a terrific new owner — an important consideration for us — and we at Auxo deliver an incredible return for our investors,” said Jeff Helminski, managing partner at Auxo.

M/G will continue to operate under the M/G brand and as a standalone entity, and the members of the management team will continue in their current roles.

“I am excited by the capabilities that Maritime Partners brings to M/G, including the ability to elevate the already high level of service and exceptional value M/G delivers to its customers,” said Greg Binion, executive chair of M/G. “This transaction is a great result for M/G customers, employees, shareholders, Maritime Partners and Auxo.”