Private investment firm Auxo Investment Partners, Muskegon, Mich., announced today that it is acquiring Andrie LLC, a Michigan-based Jones Act bulk transporter of specialty products.

Those products include liquid asphalt, cement, light oil petroleum products, and calcium chloride. The deal, terms of which were not disclosed, marks Auxo’s sixth acquisition in 16 months, and builds on the firm’s December 2017 acquisition of M/G Transport Services, a dry-bulk transportation and logistics company based in New Orleans.

Andrie, founded in 1988, has successfully grown its business, increasing its fleet of four vessels to 19 vessel, its cargo capacity from 12,000 tons to over 125,000 tons and its workforce from 25 to 150. Asphalt makes up most of the Andrie’s shipping volume, followed by cement, light oil products, and calcium chloride, all of which require special handling.

While Andrie and M/G Transport Services transport different products over different geographies (M/G Transport Services operates on rivers), both are well known in their respective spaces.

Advisors and lenders on the transaction included Capstone Headwaters, Miller Johnson PLC, Barnes & Thornburg LLP, BDO USA LLP, PNC Bank, Aon Plc, Krauter & Co., and Advantage Benefits.

Counting Andrie and M/G Transport Services, Auxo has acquired six companies since its October 2016 founding.