Argosy Private Equity and Stone River Capital Partners have acquired Burco, a maker of automotive mirror glass.
Burco manufactures and supplies mirror glass and related products to various automotive and consumer markets – totaling more than 4,500 different types – across the United States and is an original equipment supplier to various specialty mirror head manufacturers. Burco operates a 20,000 sq. ft. manufacturing and warehousing facility in Grand Rapids, Michigan. Burco was founded in 1979 and, according to the company, is the only United States-based manufacturer of replacement side-view mirrors.

With the buy of Burco, Argosy and the company’s management team will focus on creating new value in the business through diversifying and introducing new product lines, leveraging the company’s e-commerce platform, and expanding geographically in certain key markets.
“Burco is pleased to join forces with Argosy Private Equity,” said Bill Castleberry, the president of Burco. “Throughout our nearly 50-year history, quality, and customer service have always been at the forefront of our operation. Argosy’s partnership will help us continue this focus by expanding our product line and geographic reach to meet customer needs and pursuing additional growth opportunities aligned with our mission of ‘Quality is in our image’.”
“We are excited to be partnering with Burco’s experienced team. As the only domestic manufacturer of automotive mirror replacement, Burco has developed a strong reputation for fast shipping times, quality products, and great customer service. We are looking forward to working with the team to continue to grow and support strategic initiatives that build off this foundation,” said Keven Shanahan, a partner at Argosy.
Argosy makes control investments of $5 million to $25 million in niche manufacturing and business-to-business service companies with $20 million to $100 million of revenue and $3 million to $10 million of EBITDA. In July 2022, Argosy held a final and above-target closing of Argosy Investment Partners VI LP with $422 million in capital and is seeking both new platforms and add-on acquisitions to its existing portfolio companies.
Headquartered near Philadelphia in Wayne, Pennsylvania, Argosy Private Equity was founded in 1990 and is a division of Argosy Capital, an investment adviser with $3.1 billion of assets under management. Other investment units of Argosy include Argosy Real Estate Partners, Argosy Credit Partners, Argosy Strategic Partners, and Argosy Healthcare Partners. All of Argosy’s funds focus on lower middle-market investment strategies.
Stone River Capital Partners invests in profitable companies with revenues between $10 million to $100 million. The firm is led by Guy Boitos and is headquartered in Birmingham, Michigan.
Burco is the third investment made by Argosy in partnership with Stone River.
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