Livingstone Cuts Deal for Keystone

Advises on Sale of Atlas Die to Auxo Investment Partners

Livingstone’s Industrials team is pleased to announce the sale of Atlas Die, LLC (“Atlas” or the “Company), a portfolio company of Keystone Capital (“Keystone”), to AUXO Investment Partners (“AUXO”). Livingstone acted as the exclusive financial advisor to Atlas and Keystone.

Founded 65 years ago, Atlas Die is a leading manufacturer of highly engineered steel rule, flexible, and solid rotary dies and tooling to blue-chip customers in the consumer packaged goods, food & beverage, healthcare, pharmaceutical, and general industrial sectors.

Atlas Die Chief Executive Officer Ken Smott stated, “Our friends at Keystone Capital have been terrific partners to Atlas for over a decade. Through the sale process, AUXO emerged as the ideal partner to support Atlas’ next chapter of continued growth in supporting our customers.”

“We view ourselves as stewards of our partners’ capital and of the legacies of our portfolio companies, their owners, and their team members. As such, we’re honored to have the opportunity to assist the teams at Atlas Die and Bernal achieve their full potential and to continue to serve their customers with the market-leading service they are known for,” said Auxo Managing Partner Jeff Helminski.

Added Auxo Managing Partner Jack Kolodny: “We see a tremendous opportunity to further grow and scale Atlas Die and Bernal and to drive new sales and revenue growth.”

Keystone Capital Managing Director David Greer commented, “We trusted Livingstone for this important transaction due to the firm’s deep sector experience, as well as its track record for unrelenting client advocacy. The Livingstone team partnered closely with Atlas management and remained creative and committed to crafting a great deal. Livingstone’s combination of industry expertise and deal-making acumen yielded an extremely successful transaction.”

Livingstone Managing Director Karl Freimuth commented, “We are proud to have advised Atlas on a successful sale and to have worked with an important private equity client in Keystone. The Atlas transaction represents the 21st deal completed by Livingstone’s global Industrials team in the last 12 months.”

Honigman Miller Schwartz and Cohn LLP served as legal counsel to Atlas Die. Miller Johnson and Barnes & Thornburg served as legal counsel to Auxo. BDO, USA LLP provided accounting diligence services to Auxo.

About the Companies
Atlas Die is a market leading manufacturer of steel rule dies, flexible rotary dies, solid rotary cutting dies, and custom engineered converting systems. Headquartered in Elkhart, IN, Atlas Die employs 200+ employees and operates 200K+ square feet of manufacturing space across 7 facilities.

Keystone Capital founded in 1994 with the goal of acquiring high quality, market-leading niche businesses. Unlike a traditional private equity firm utilizing a fund-based investment model, Keystone operates more like an entrepreneurial holding company – utilizing the personal capital of its partners rather than outside third-party capital, capitalizing its investments with conservative capital structures, and with its principals actively involved in supporting the management teams of its portfolio companies. Keystone’s investments all share one thing in common – a mutual commitment by management and Keystone to thoughtfully and patiently build a sustainable, market-leading business.

AUXO Capital Partners makes investments in companies at transition points in their history, then installs the infrastructure, processes, and talent that nurture their success and help them grow to their full potential. We do so in collaboration with our management teams and investors – as our name reflects, we are not merely investors, but partners.