Argosy Private Equity News
Keep up with the latest updates regarding our team and portfolio.
2023 Year In Review
Building on a Strong Foundation to Support Growth
“I can’t change the direction of the wind, but I can adjust my sails to always reach my destination.” – Jimmy Dean
To say 2023 was an interesting year in the private equity industry would be a gross understatement. An uncertain macro environment, an active Federal Reserve battling inflation, and broad dislocation in the credit markets, on the heels of rising interest rates and high-profile bank failures, created a challenging climate for M&A in the lower middle market. Across the market, these conditions made getting deals done very difficult which resulted in lower transaction volumes and wide variability in valuation expectations and multiples versus 2022.
But, after more than 30 years focused on the lower middle market, we at Argosy Private Equity understand that when challenges are presented, opportunity is often not far behind. Despite the challenging market, we took Jimmy Dean’s sage advice and “adjusted our sails,” adapting to the market headwinds to find opportunity to grow as a firm, support our portfolio companies and deploy capital in new platform and add-on transactions. While the year was not without its challenges, we are proud of our team’s efforts in 2023 which resulted in Argosy successfully closing on six new platform investments and five add-on acquisitions during the year, continuing to invest in our portfolio through the implementation of our VAM™ playbook (Argosy’s Value Acceleration Methodology) with our existing portfolio companies, and working alongside our management teams to execute their strategic and value creation plans.
In 2023, one of the most impactful achievements was investing in talent. We added five new team members across the investment team, operating team, and our finance team. With 29 professionals, we feel like the team is the strongest it has ever been and we are looking forward to what we can accomplish together!
Because of our team, the management teams we partner with, and you, our business partners, we were able to see our efforts come to fruition by receiving three industry awards.
With 2023 behind us, we would like to express our deepest gratitude for the support and trust from everyone we partnered with throughout the year. As we enter into 2024, we look forward to continuing our partnerships and an exciting year ahead!
Platform Acquisitions
Add-On Acquisitions
2023 VAM Initiatives
When Argosy partners with our portfolio companies, our goal is not just investment — it is a commitment to fostering growth and enhancing operations. We leverage our extensive experience and the power of our VAM™ business system to provide a proven framework to grow our partner companies the right way. VAM™ is more than a tagline; it is a philosophy backed by dedicated resources. Core pillars such as Strategic Planning, Voice of the Customer, and Strategy Deployment remain integral, gaining widespread acceptance across our portfolio. We continue to seek opportunities to expand the VAM™ business system and introduce new tools to help our partners navigate challenging markets.
To foster a collaborative mindset, we organized impactful webinars and lunch-and-learn sessions, providing valuable content. Cross-portfolio gatherings, like our 9th Annual CEO Summit, further encouraged peer-to-peer collaboration.
As we reflect on 2023, we are immensely grateful for the achievements of the management teams and their companies. The VAM™ methodology will continue to be a driving force for growth in the years ahead.
Our Team Continues to Grow
We welcomed five new team members, including Argosy Capital’s CFO, three additions to the Investment Team, and one addition to the Operating Team.
We are still looking to grow our team!
We are currently accepting applications for 2024 Summer Analyst positions. This role provides an opportunity to gain hands-on exposure to the entire deal process at a growing private equity firm. See the full job posting for more information.
If you or someone you know is interested, you can also send resumes to careers@argosycapital.com.
The Next Generation Takes the Helm as Argosy Sails into 2024
In 2023, as a part of the firm’s long-term growth strategy, Keven Shanahan and Lane Wiggers were promoted to Co-Managing Partners of Argosy Private Equity.
Keven joined Argosy in 2004 as an Associate and became Partner in 2014. Keven has been a member of the investment committee for the past two funds and has been an integral part of Argosy’s successes for 20 years.
Lane joined Argosy in 2015 as the team’s third Operating Partner and was promoted to Managing Director of the Operating Partner Program in 2018. Lane has led the Operating Partner team as they continue to build out Argosy’s VAM™ process and drive collaboration across the portfolio.
As we enter 2024, Lane and Keven look forward to leading and supporting the team with a continued focus on being great partners to all of Argosy’s stakeholders.
Market Recognition1
We are incredibly honored to be selected for the Top Private Equity Firms of 2023 by GrowthCap, GCI Publishing’s 2023 Top 50 PE Leaders in the Middle Market and Inc.’s 2023 Founder-Friendly Investors List.
1 These awards are the opinion of the party conferring the award and not of Argosy. Argosy submitted a nomination, and once selected, paid a publishing and copyright fee to promote these awards. There can be no assurance that other providers or surveys would reach the same conclusion as the foregoing.
Small Business Investing Scholars Program 2023 Participant – Hope Neale
Argosy Private Equity is pleased to recognize Hope Neale as our Class of 2023 participant in the Small Business Investing Scholars Program (SBISP).
It was an honor to participate in the SBISP for the third time this summer and to have Hope on the Argosy team.
Read more here.
Argosy Insights
Our experts and partners offered their perspectives on trends and best practices.
Read the latest article on How to Spot and Nurture Great Leaders or subscribe here to receive future Argosy Insights.
“Leaders do not live in silos – they are a critical part of the larger community they helm.”
Planning into Action: 2023 Strategy Deployment
Argosy’s 2023 strategy involved refining our mission, vision, and core values to build a strong, trust-focused culture with employees, investors, portfolio companies, and partners.
Our Mission
We partner with business leaders to facilitate growth and further advance their businesses, increasing value for all stakeholders. Drawing on our wealth of expertise, we aspire to be the preferred partner for investors, portfolio companies, employees, and the communities where we engage and invest, creating a positive impact and lasting success.
Our Vision
Argosy is dedicated to fostering a collaborative environment that inspires creativity and innovation by leveraging our diverse insights to generate enduring value. Our culture is grounded in mutual values, cultivating trust with everyone we engage, and maintaining unwavering integrity in all our endeavors.
Our Core Values
- Act with Integrity
- Foster a Collaborative Environment
- Success through Constant Perseverance
- We Win with Diversity
- Celebrate Achievements
