Argonaut Private Equity has acquired Mammoth Carbon Products, a pipeline products distribution company.
Mammoth Carbon Products is a distributor of carbon steel pipe in Texas and Colorado. The company, led by President Mike Ellis, was founded in 2014 and is headquartered in Houston (www.mammothcarbon.com).
With the completion of this investment, Argonaut will assist Mammoth in continuing its expansion into other markets in the Northeastern US, Canada and California. “We are known for our quick response time and providing exceptional customer service. Aligning with Argonaut ensures we retain our service model while adding industry strength and resources to broaden our scope,” said Mr. Ellis.
“Mammoth is well positioned to significantly impact the distribution of steel pipeline in North America to meet demand,” said Steve Mitchell, CEO of Argonaut. “This acquisition provides the opportunity to leverage Argonaut’s experience, affiliates and relationships in the midstream market.”
Argonaut Private Equity invests in companies that are active in the energy services, manufacturing and industrial sectors. The firm has $3 billion of assets under management and is currently investing through Argonaut Private Equity Fund IV LP which was raised in 2018. Argonaut Private Equity is headquartered in Tulsa (www.argonautpe.com).
“At Argonaut, our goal is to lend support, expertise and available capital to ensure a company continues its growth trajectory,” added Mr. Mitchell. “With more than 100 investments, Argonaut has fostered an ongoing network of global relationships to partner with management teams, applying our experience to deliver solutions, generate value and propel growth.”
© 2019 Private Equity Professional | March 1, 2019
