Argosy Private Equity, a private equity fund focused on the lower middle market, announced today the acquisition of Burco, Inc. (“Burco” or the “Company”).
Burco manufactures and distributes mirror glass and related materials to various automotive and consumer industries throughout the United States, as well as being an original equipment supplier to a number of specialty mirror head manufacturers.
Burco, headquartered in Grand Rapids, Michigan, was formed in 1979 and is the only manufacturer of replacement side view mirrors in the United States.
The Company offers a comprehensive array of items engineered for over 4,500 distinct types of cars from its 20,000 square foot manufacturing and warehouse facilities.
Argosy collaborated with Guy Boitos of Stone River Capital Partners, a Michigan-based private investment business with extensive industry experience. Stone River Capital Partners is Argosy’s third investment.
Argosy and management have begun to adopt the Value Acceleration Methodology (VAMTM) approach together. Burco’s business strategy and value creation plan will concentrate on diversifying and launching new product lines, utilizing a solid e-commerce platform, expanding geographically in major target areas, and providing extra resources to the management team to assist in the execution of these goals.
Argosy is still looking for platform investments for its sixth fund as well as add-on acquisition opportunities for its existing portfolio. Argosy seeks to partner with and invest in lower middle market specialist manufacturing and business-to-business services companies with significant growth potential.
Argosy Private Equity, which was created in 1990, specializes in providing capital as well as operational and financial skills to lower middle market companies in a variety of industries.
Argosy collaborates with motivated management teams to invest in firms that have long-term competitive advantages and strong growth potential.
Argosy Private Equity, together with Argosy Real Estate Partners, Argosy Credit Partners, Argosy Strategic Partners, and Argosy Healthcare Partners, is a branch of Argosy Capital Group, Inc. (“Argosy Capital”).
Argosy Capital is an investment adviser that manages roughly $3.1 billion in assets. Argosy Capital funds are all focused on lower middle market investment techniques.