Argonaut Private Equity: Investing in Middle America and Closing Fund V at $500 Million

Argonaut Private Equity, a private equity firm focused on investing in Middle America, has successfully closed its fifth fund, Argonaut Private Equity Fund V (“APE V”), with $500 million in capital commitments. This amount surpasses the initial target of $400 million and reaches the fund's hard cap.

Since the first close of the Fund in 2022, Argonaut has been actively investing in diversified industrial businesses across Middle America, its specialty niche. The Fund has already deployed approximately 39 percent of its commitments across seven platform acquisitions, including Bandera Utility Contractors, Center Rock, Miller Contracting Services, Petroplex Acidizing, Tulsa Inspection Resources, Allstream Services & Rental, and Chemoil Energy Services.

APE V is backed by prominent institutional investors, including pensions, endowments, foundations, sovereign wealth funds, and family offices, among others. The firm acknowledges the support of both existing and new investors who have entrusted their capital to Argonaut.

Steve Mitchell, CEO and Managing Director of Argonaut, expressed his gratitude for the support and confidence of the investors. Despite a challenging fundraising environment, APE V closed above its target. Mitchell highlighted that as interest rates rise, investors understand that future outsized returns will not solely depend on leverage but on operational excellence. The firm's track record of investing with conservative purchase price multiples, minimal debt, and diligent execution resonated well during the fundraising process.

Argonaut has a strong history of deploying capital and creating value through hands-on operational improvements. Over the years, the firm has invested over $2.5 billion across 40 platform companies. To enhance operations and drive growth, Argonaut focuses on implementing lean manufacturing processes, upgrading software systems, developing talent, and engaging in strategic add-on acquisitions.

Kelby Hagar, President and Managing Director of Argonaut, emphasized that the firm is deeply connected both geographically and culturally to Middle America. With the closing of APE V, Argonaut is well-positioned to invest in sectors and regions that are underserved by institutional capital.

About Argonaut Private Equity

Argonaut Private Equity, founded in 2002 and based in Tulsa, Oklahoma, is a private equity firm that manages $2.9 billion in assets. The firm partners with companies to develop strategies for accelerating growth and enhancing operations.

For more information about Argonaut Private Equity, please visit www.argonautpe.com.