Argosy Private Equity
Lower middle market private equity firm
Overall Rank: 46
Category: Lower Middle Market
Category Rank: 4
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Argosy Private Equity has been partnering with lower middle market niche manufacturing and business services companies for over 30 years. Argosy partners with motivated management teams seeking to invest in companies with sustainable competitive advantages and attractive growth prospects. In collaboration with the management teams, Argosy’s team of in-house operating partners works alongside management teams to implement the Value Acceleration Methodology, VAM™. VAM™ is a lower middle market acquisition playbook specifically geared towards helping companies in the lower middle market execute on objectives to grow and professionalize.
Argosy has been dedicated to the lower middle market for over 3 decades, raising its first fund in 1997 and currently investing Fund VI, a $422 million fund. The team has partnered with over 130 businesses nationwide and has over $1.0 billion in assets under management as of June 30, 2023.
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Keven P. Shanahan, Partner
Keven is Partner of Argosy Private Equity. He joined Argosy in 2004 and is responsible for developing and assessing investment opportunities, providing strategic management support, monitoring investments and fund administration. Keven is a member of Argosy’s Investment Committee. Prior to joining Argosy, Keven was an Assistant Vice President in the Financial Services and Healthcare Group of GE Equity and he began his career at Furman Selz, a New York-based investment bank that was later bought by ING. Keven earned his MBA from the Tuck School of Business at Dartmouth College and earned a Bachelor of Arts with a concentration in Applied mathematics and economics from Harvard College. He has been a director or participated as a board observer on many of his investments.
Lane W. Wiggers, Managing Director, Operating Partner Program
Lane Wiggers is Managing Director of Argosy Private Equity’s Operating Partner Program. He joined Argosy in 2015 as Argosy’s third full time operating partner. Lane is responsible for developing and assessing investment opportunities, providing strategic management support, monitoring investments and fund administration. Prior to joining Argosy, Lane founded Cordam Group, was a partner with CS Capital Partners, and also was a Director with CD Ventures, a Philadelphia based private investment firm. Lane began his finance career as an investment banker at Wachovia Securities/Wells Fargo after starting his career in engineering. Lane earned an undergraduate degree from Clemson University in mechanical engineering and an MBA from Smith School of Business at the University of Maryland where he was a Lamone Scholar.
Michael R. Bailey, Partner
Michael joined Argosy in 1999 and is responsible for developing and assessing investment opportunities, providing strategic management support and monitoring investments. Michael is a member of Argosy’s Investment Committee. His background includes commercial lending, business operating experience, and SBIC investing. Michael earned an MBA at Drexel University and a Bachelor of Science, business administration with a concentration in finance from Bucknell University. He is a former board member and officer of the Philadelphia Chapter of the Association for Corporate Growth, has served on the board of the Greater Philadelphia Venture Group, and is a founder and director of Community Backstop, a charitable organization.
Donald Charlton, Deal and Operating Partner
Don joined Argosy in 2010 and is responsible for evaluating potential investments, performing due diligence, and working with portfolio companies to grow shareholder value. Don is a member of Argosy’s Investment Committee. He has over 23 years of experience as a senior executive for venture and private equity backed companies. Don started his career with Coopers & Lybrand (now PriceWaterhouseCoopers) and held management positions at Baxter Healthcare, Osage Venture Partners, InPhonic (now Simplexity), XM Satellite Radio, Gratis Internet and Venture Catalyst Consulting. Don earned his B.S. from the University of Scranton, an MBA from New York University’s Stern School of Business and is a CPA.
Jack Nugent, Partner
Jack joined Argosy in 2002 and is responsible for developing and assessing investment opportunities, providing strategic management support and monitoring investments. Prior to joining Argosy, Jack worked in the Restructuring Group of the Investment Banking division at Lazard Frères & Co. Prior to Lazard, Jack worked at Deutsche Banc in Manhattan and Brown & Sons in Baltimore, Maryland. He also worked at GE Equity, the private equity arm of General Electric. Jack earned his MBA from the Tuck School of Business at Dartmouth College and his Bachelor of Science in business administration degree with a major in finance from Loyola College in Maryland. He received the Arnold F. Adams award for Excellence in Entrepreneurship from the Tuck School. He has been a director or participated as a board observer on many of his investments.
John J. Broderick, Operating Partner
John joined Argosy in 2016 and is responsible for evaluating potential investments, performing due diligence, and working with portfolio companies to grow shareholder value. John has over 25 years of experience as a manufacturing executive, the last ten years working with private equity backed companies in the lower middle market. Prior to joining Argosy, John was Operating Partner at Argo Management Partners, Prior to Argo, John held leadership positions with Danaher Corp, Siemens and Sandvik, and was responsible for Sales, Finance, IT, Human Resources, R&D, Engineering, Project Management, Marketing, Customer Service and Operations. John holds a BS in mechanical engineering from Rutgers University, an MBA in industrial management from Fairleigh Dickinson University and post graduate degree from Seton Hall University in international business.
Kirk B. Griswold, Founding Partner
Kirk co-founded Argosy in 1990 and is responsible for developing and assessing investment opportunities, providing strategic management support, and monitoring investments. His experience encompasses investing in over 100 companies and he has been a director or participated as a board observer on many of his investments. Previously he was a Manager and Consultant with Corporate Decisions, Inc. (now Mercer Management Consulting, Inc.), a Boston-based international management consulting firm. Kirk also has previous experience as President of a niche manufacturing company and as a manager and avionics engineer with the Integrated Logistics Support Division of Westinghouse Electric Corp. He earned an MBA from the Wharton School, University of Pennsylvania, with a dual major in management and finance, and a Bachelor of Science, physics, from the University of Virginia. He has served as President of the Northeastern Regional Association of SBICs, on the board of the Greater Philadelphia Venture Group, Team Captain for the MS150 Bike Tour, and has been a guest lecturer for the Finance Department of the Wharton School.
Argosy has been dedicated to the lower middle market for over 3 decades, raising its first fund in 1997 and currently investing Fund VI, a $422 million lower middle market buyout fund. Its strategy has evolved over time. Argosy began as a mezzanine investor, partnering alongside many buyout strategies in its first 3 funds. In 2007, the firm began to formally build out its in-house operating partner team, which allowed it to become more involved with the management of its investments. In total, the team has partnered with over 130 platform businesses nationwide and has over $1.0 billion in assets under management as of June 30, 2023.
|Argosy Investment Partners VI||$422||2020|
|Argosy Investment Partners V||$300||2014|
|Argosy Investment Partners IV||$180||2008|
|Argosy Investment Partners III||$88||2005|
|Argosy Investment Partners II||$69||2001|
|Argosy Investment Partners I||$39||1997|
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Sector: Engineered Materials
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DSI Logistics: Invested 2019, exited 2021
Sector: Business Services
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Argosy believes that it has a duty to act in the best interests of its stakeholders and that selectively incorporating Environmental, Social and Governance (“ESG”) considerations into how it does business can benefit the environment and communities, while creating long-term value for its assets and investors. Argosy believes that it is prudent to consider a range of ESG issues in evaluating potential portfolio investments, managing existing portfolio investments, and setting corporate policies.
Argosy is dedicated to considering ESG in the course of its due diligence, investment decision-making, and management of portfolio investments.
- Its approach focuses on investing for long-term sustainability, including environmental, social, governance and resilience issues.
- Consideration of ESG initiatives begins during the due diligence stage of an investment and continues to be monitored throughout the hold period.
- Argosy communicates its ESG objectives to management teams, monitors progress, and works in partnership with management to implement ESG principles as appropriate for each of its investments.