M&A Deal Summary

Argosy Private Equity and Ironwood Capital Acquire Groome Industrial Service Group

On September 20, 2019, private equity firm Argosy Private Equity and growth capital firm Ironwood Capital acquired business services company Groome Industrial Service Group

Acquisition Highlights
  • This is Argosy Private Equity’s 9th and Ironwood Capital’s 5th transaction in the Business Services sector.
  • This is Argosy Private Equity’s 72nd and Ironwood Capital’s 71st transaction in the United States.
  • This is Argosy Private Equity’s 4th and Ironwood Capital’s 3rd 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
Ironwood Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Woodbridge International (Financial)

Target

Groome Industrial Service Group

Denville, New Jersey, United States
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.

Search 200,577 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 2

Buyer

Argosy Private Equity

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor

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 86
Sector (Business Services) 9 of 11
Type (Buyout (LBO, MBO, MBI)) 41 of 52
State (New Jersey) 4 of 5
Country (United States) 72 of 86
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 -
Buyer

Ironwood Capital

Avon, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1986
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ironwood Capital is a private investment firm that makes equity and subordinated debt investments in lower middle-market companies. Investment proceeds are generally used to support leveraged buyouts, growth financings, and recapitalizations. Investments typically range from $10 to $40 million in companies generating $20 to $250 million in annual sales. Target sectors include healthcare products/services, value-added manufacturing, business services, consumer products, specialty distribution, and education. Ironwood prefers opportunities East of the Mississippi, but will selectively consider investments in the Western US. The Firm's investment horizon is three to five years. Ironwood Capital was formed in 2002 and is based in Avon, Connecticut.

DEAL STATS #
Overall 71 of 95
Sector (Business Services) 5 of 7
Type (Buyout (LBO, MBO, MBI)) 25 of 28
State (New Jersey) 3 of 4
Country (United States) 71 of 95
Year (2019) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-25 Nautilus Integrated Solutions

South Windham, Connecticut, United States

Nautilus Integrated Solutions is a company specializing in providing engineering, technical, and consulting services for the nuclear and energy sectors. A prime contractor supplying critical parts and assemblies to the Department of Defense, NIS has capabilities that include casting, precision machining, non-destructive testing, welding, and engineering. Nautilus Integrated Solutions is based in South Windham, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-06 BrandFX

Fort Worth, Texas, United States

BrandFX LLC is a manufacturer and seller of composite utility truck bodies. Products include service bodies designed for smaller utility trucks, line bodies designed for medium-sized utility trucks as well as toppers and inserts designed primarily for compact utility trucks.

Sell -
Mergr

Product

Company

Legal