M&A Deal Summary

Argosy Private Equity and NewSpring Capital Acquire Vac2Go

On March 15, 2023, private equity firms Argosy Private Equity and NewSpring Capital acquired automotive company Vac2Go

Acquisition Highlights
  • This is Argosy Private Equity’s 2nd and NewSpring Capital’s 2nd transaction in the Automotive sector.
  • This is Argosy Private Equity’s 80th and NewSpring Capital’s 179th transaction in the United States.
  • This is Argosy Private Equity’s 3rd and NewSpring Capital’s 2nd transaction in Kentucky.

M&A Deal Summary

Date 2023-03-15
Target Vac2Go
Sector Automotive
Buyer(s) Argosy Private Equity
NewSpring Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Vac2Go

Louisville, Kentucky, United States
Vac2Go provides repair and maintenance services for vacuum trucks and related equipment at all its facilities.Vac2Go offers daily to multi-month rentals of the latest model trucks and equipment to industrial service contractors, environmental contractors, the construction, excavation, and utility industries, and to state and local municipal governments. Vac2Go was founded in 2011 and is based in Louisville, Kentucky.

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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 80 of 88
Sector (Automotive) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 47 of 53
State (Kentucky) 3 of 3
Country (United States) 80 of 88
Year (2023) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-29 Unisorb

Michigan Center, Michigan, United States

Unisorb is a provider of highly-engineered products that are mission-critical for the optimum performance and useful life of machinery installation systems. The company's products anchor, align, level, or isolate equipment and machinery from vibrations. Unisorb was formed in 1935 and is based in Michigan Center, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-14 Burco

Grand Rapids, Michigan, United States

Burco manufactures and supplies mirror glass and related products to various automotive and consumer markets across the United States and is an original equipment supplier to various specialty mirror head manufacturers. Burco was formed in 1979 and is based in Grand Rapids, Michigan.

Buy -
Buyer

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


DEAL STATS #
Overall 183 of 201
Sector (Automotive) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 38 of 44
State (Kentucky) 2 of 2
Country (United States) 179 of 197
Year (2023) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-15 Northpoint

Woodstock, Georgia, United States

Northpoint is a provider of roof repair and replacement services to single-family and multi-family residential customers in the greater Atlanta metropolitan area. The company also provides roof restoration services to commercial customers as well as solar and gutter installation services. Northpoint was founded 2019 and is based in Woodstock, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-16 Prosperity Behavioral Health

Cherry Hill, New Jersey, United States

Prosperity Behavioral Health is a provider of financial solutions for behavioral health facilities. Prosperity Behavioral Health is based in Cherry Hill, New Jersey.

Buy -