M&A Deal Summary

Argosy Private Equity Acquires Groome Industrial Service Group

On September 20, 2019, private equity firm Argosy Private Equity acquired business services company Groome Industrial Service Group

Acquisition Highlights
  • This is Argosy Private Equity’s 9th transaction in the Business Services sector.
  • This is Argosy Private Equity’s 72nd transaction in the United States.
  • This is Argosy Private Equity’s 4th transaction in New Jersey.

M&A Deal Summary

Date 2019-09-20
Target Groome Industrial Service Group
Sector Business Services
Buyer(s) Argosy Private Equity
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Woodbridge International (Financial)

Target

Groome Industrial Service Group

Denville, New Jersey, United States
website
Groome Industrial Service Group is a provider of industrial cleaning and maintenance services to customers in the natural gas-fired power generation, refinery, manufacturing, construction, marine, and aviation industries. Groome Industrial Service Group was founded in 1969 and is based in Denville, New Jersey.

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Buyer(S) 1

Buyer

Argosy Private Equity

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1990
PE ASSETS 575M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Argosy Private Equity is the private equity arm of Argosy Capital, an asset management firm. Argosy Private Equity provides both debt and equity capital to lower middle-market companies located throughout the US. Argosy focuses on growth companies with experienced management teams and revenues between $15 and $100 million and EBITDA of $3 to $9 million. Argosy looks to invest $5 - $20 million per transaction. Specific areas of interest include manufacturing, business services, franchising and Value added distributions. The Firm will consider a variety of transaction types, including MBO’s, recapitalizations, growth equity and acquisitions. Argosy was formed in 1990 and is based in Wayne, Pennsylvania.


DEAL STATS #
Overall 72 of 81
Sector (Business Services) 9 of 10
Type (Buyout (LBO, MBO, MBI)) 41 of 50
State (New Jersey) 4 of 4
Country (United States) 72 of 81
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-13 Sussex Wire

Easton, Pennsylvania, United States

Sussex Wire, Inc. specializes in the design, manufacturing, and distribution of highly-engineered, specialty metal parts and components utilizing cold-forming technology. Sussex Wire was founded in 1974 and is based in Easton, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-05 Flow Dry Technology

Brookville, Ohio, United States

Flow Dry Technology is a designer and manufacturer of highly innovative, integrated solutions for the automotive, industrial, and healthcare industries. Flow Dry’s products include desiccant bags, value-added assemblies, and other sealant solutions to protect valuable systems from costly moisture damage. Flow Dry Technology was founded in 1946 and is based in Brookville, Ohio.

Sell -