Argosy Private Equity has acquired a majority interest in ECS Environmental Solutions, a designer and manufacturer of systems that are used for odor control in the municipal wastewater market.
ECS’ odor control and air pollution solutions include activated carbon, biological, and chemical elements and are custom tailored for specific odor control criteria and customer need. In addition to its odor control activities, ECS manufactures ducts for corrosive airstreams, process piping and sound attenuation enclosures, and also provides testing and measurement services. ECS is headquartered north of Austin in Belton, TX (www.ecs-env.com).
Jeff Jones will continue to lead the company as CEO under Argosy ownership and will maintain a significant equity interest in the company. Argosy intends to work with the management team of ECS to implement growth strategies that includes penetrating the industrial odor control market, continuing to develop the company’s service and maintenance capabilities, and pursuing add-on acquisition opportunities.
Argosy Private Equity invests from $5 million to $20 million in lower middle market companies that have revenues of $15 million to $100 million and EBITDA of $3 million to $9 million with EBITDA margins of 10% or greater. Sectors of interest include business services and manufacturing. Argosy Private Equity is a division of Argosy Capital Group, an SEC-registered investment adviser with $1.3 billion of assets under management. The firm was founded in 1990 and is headquartered in the Philadelphia suburb of Wayne, PA (www.argosycapital.com).
Argosy’s investment in ECS was made through its fifth fund, Argosy Investment Partners V LP, which closed in April 2015 with $300 million of capital commitments.
© 2018 Private Equity Professional | September 27, 2018