Argosy Private Equity has held a final closing for Argosy Investment Partners V, LP (AIP V). The new fund closed at the hard cap of $300 million and fundraising was completed in only six months.
Capital commitments for AIP V are from new and existing financial institutions, insurance companies, foundations and high net worth individuals, as well as a leverage commitment from the SBA. The final close took place on January 30, 2015.
So far AIP V has invested approximately $40 million of capital in four platform companies: Flow Dry Technology – a provider of moisture control products and gaskets (www.flowdry.com); LSSI – a provider of outsourced library management services (www.lssi.com); Panhandle Oilfield Service Companies – an oil and gas services company providing roustabout services, maintenance, equipment sales, and trucking (www.posci.net); and Ranger Aerospace – a provider of aero components overhaul and retrofit services to the commercial airlines (www.rangeraerospace.com).
Argosy invests from $5 million to $15 million in lower middle market companies that have revenues of $10 million to $100 million and EBITDA margins of 10% or greater. Sectors of interest include manufacturing, business services, and value-added distribution. The firm is headquartered in the Philadelphia suburb of Wayne, PA (www.argosycapital.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 4-13-15
