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Capstone Headwaters Advised Andrie LLC on its Acquisition by Auxo Investment Partners

February 2019

Denver, CO – Capstone Headwaters, a leading international investment banking firm, advised Andrie LLC on its acquisition by Auxo Investment Partners.  Terms of the deal were not disclosed.   

Andrie is a Michigan-based Jones Act bulk marine transporter of liquid asphalt, cement, light oil petroleum products and calcium chloride throughout the Great Lakes.  Founded in 1988 by members of the Andrie family, Andrie is a recognized shipping leader working extensively with large global enterprise customers.  Andrie has earned widespread accolades from customers for service, safety, and reliability, growing its fleet from 4 vessels to 19 vessels, its cargo capacity from 12,000 tons to over 125,000 tons, and its workforce from 25 to 150.

“It was a true pleasure to be associated with and advise Andrie on this important transition,” commented Burke Smith, managing director and head of Transportation & Logistics at Capstone Headwaters.  “Andrie exemplifies the very best of US Jones Act marine transportation, with an intense customer focus, exacting operational standards and consistent performance.” 

Andrie was founded by Barbara Andrie, mother of the current CEO, in 1988. Asphalt and cement make up most of the company’s shipping volume, followed by 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.

“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,” said 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 barge 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.”

Auxo Investment Partners is a Grand Rapids, Mich.-based private investment firm that partners with owners and management teams of companies at transition points in their history. Auxo works to instill the infrastructure, processes and talent needed to help them grow to their full potential with a long- term investment approach. Auxo’s unique philosophy aligns the interests of its companies, their employees, the communities in which they are located and its investors to achieve optimal outcomes for all. For more information, please visit www.auxopartners.com

Lead Professionals

Burke Smith

Managing Director

Paul Janson

Chief Operating Officer