Argosy Private Equity News
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Argosy Private Equity Acquires Preco, Inc.
On March 11, 2022, Argosy Private Equity acquired Preco, Inc. (“Preco” or the “Company”). This is the fourth platform investment made in Argosy’s sixth lower middle market fund.
Established in 1976 and headquartered in Lenexa, Kansas, Preco is an innovative designer and manufacturer of laser processing and specialty die cutting systems, along with related contract manufacturing services. The Company serves customers in a diverse group of end markets, including industrials, abrasives, packaging, defense, electronics, energy storage, and medical. In addition to the headquarters facility in Kansas, Preco also has operations in Wisconsin and Europe.
Through relationships from Argosy’s powerful contact database, we were able to source Preco at an attractive purchase price. The Argosy team, partnering with management, has already begun execution of its Value Acceleration Methodology (VAM™), to add value to several key areas of the business.
“Preco is pleased to join forces with Argosy Private Equity, opening a new chapter in our nearly 50 year history of pursuing opportunities and growth for the benefit of our customers and employees. Preco’s leading position in the engineering and manufacturing of sophisticated equipment and contract manufacturing services in the USA will continue as we pursue our mission statement of ‘Create for Others’,” said Timothy Burns, CEO of Preco.
“We are very excited to announce our new partnership with Preco and its dynamic leadership team. Preco has been a recognized leader in the specialty die cutting and laser processing industries for decades, and we are looking forward to working together to grow the business through further development of the company’s product and service offerings,” said Michael Bailey, Partner at Argosy Private Equity.