Argonaut Hauls $500M for Industrial Businesses
Argonaut Private Equity, a Tulsa, OK-based private equity firm, announced the final closing of Argonaut Private Equity Fund V with $500 million in capital commitments, nearly two years after reaching a first close for the vehicle, exceeding its initial target of $400 million and reaching its hard cap for the fund.
Argonaut invests in industrial businesses across “Middle America.” The firm has now deployed about 39% of the fund’s commitments across seven deals, including Bandera Utility Contractors, Center Rock, Petroplex Acidizing, Tulsa Inspection Resources, Allstream Services & Rental and Chemoil Energy Services.
“We are grateful for the support of existing and new investors who have entrusted us with their capital and are proud to have closed APE V above our target, despite a challenging fundraising environment,” said Steve Mitchell, CEO and managing director of Argonaut.
Since its inception in 2002, Argonaut has invested more than $2.5 billion in 40 platform firms. The company manages $2.9 billion in assets.
