Steven Morgenthal Joins Argosy Partners

Wayne, PA, January 12, 2007: Argosy Partners is pleased to announce that Steven Morgenthal has joined the firm as an Operating Partner. His responsibilities include participating with the Argosy team in evaluating potential investments, as well as, working with portfolio companies to grow shareholder value through improved strategic planning and operational effectiveness.  Click here for more details.

Argosy II Invests in Cattron-Theimeg

Argosy Investment Partners II, L.P. recently invested $3.1 million in Cattron-Theimeg, a leader in sophisticated industrial remote control technology.  Cattron is headquartered in Sharpsville, Pennsylvania, and is the market leader in traditional industrial market applications, including overhead cranes, ship loaders, and industrial locomotives.  Over the past few years, Cattron has converted its technology to take advantage of the increasing demands in the freight railroad industry.  Argosy invested in the form of senior subordinated debt, warrants and equity.

Argosy II Invests in HB&G Building Products

Argosy Investment Partners II, L.P. continued its strategy of investing in growing, basic manufacturing companies with a $3 million investment in HB&G. Headquartered in Troy, Alabama, HB&G is a leading manufacturer of polymer-based exterior and interior columns, porch posts and rails and moldings. The Company’s growth, which has exceeded 20% per annum in recent years, has been driven by an increased demand for HB&G’s innovative products made from synthetic materials that offer numerous advantages over wood.

Argosy II Invests in Dayton Parts, LLC

Argosy Investment Partners II, L.P. recently made a $2,647,540 investment in Dayton Parts, L.L.C. in the form of senior subordinated debt, warrants and common member units. Dayton Parts is a leading manufacturer and distributor of heavy duty (Class 8) truck replacement parts. Dayton Parts manufacturers aftermarket leaf springs, which it sells under the Stanley Springs brand name. Dayton Parts is also a full-line distributor of heavy-duty undercarriage replacement parts including springs, and brake and wheel-end, suspension and steering components which it markets under the Dayton Parts and BATCO brand names. Dayton Parts is headquartered in Harrisburg, Pennsylvania. The purpose of the financing was to support the acquisition of Dayton Parts by a private equity fund and its management.

Argosy II Invests in Fraser-Volpe

Argosy Investment Partners II, L.P. recently invested $2.0 million in Fraser-Volpe, a recognized leader in optical stabilization with a family of products that includes the M25 Stedi-Eye Binocular used by the U.S. Army.  Fraser-Volpe is headquarted in Warminster, Pennsylvania, and provides a diversified business platform covering sophisticated optical viewing devices; data link surveillance systems; fire control for weapons; and build to print military sub-systems.  Argosy invested in the form of senior subordinated debt and equity.

Argosy II Invests in Elmet Technologies

Argosy Investment Partners II, L.P. recently invested $3.55 million in Elmet Technologies, a manufacturer of refractory metals products and lighting components made primarily from molybdenum and tungsten. Elmet is headquartered in Lewiston, Maine. The financing supported the management buyout of Elmet from Philips Lighting, a division of Royal Philips Electronics of the Netherlands, a NYSE company. The CEO has been with the business for more than 20 years and all of the existing management team will remain in place. Elmet manufactures products for customers in the medical, semiconductor, electronic, furnace, and lighting industries. Argosy invested in the form of senior subordinated debt, warrants and equity and led a total mezzanine/equity funding of $13.5 million.

New Investment Professional Added

We are pleased to announce the latest addition to the Argosy team, Keven P. Shanahan.  Keven joined Argosy in July 2004.  Prior to joining Argosy, Keven was an Assistant Vice President in the Financial Services and Healthcare Group of GE Equity, the private equity arm of General Electric in Stamford, Connecticut.  During his tenure at GE Equity, Keven invested over $75 million in many successful transactions in the financial services sector.  He began his career at Furman Selz, a New York based investment bank that was later bought by ING, where he spent five years in the Healthcare Group working on mergers and acquisitions, public equity offerings, high yield debt offerings and private placements.  Keven earned his MBA from the Tuck School of Business at Dartmouth College, where he graduated with Distinction and was an Edward Tuck Scholar.  He earned his Bachelor of Arts with a concentration in Applied Mathematics and Economics from Harvard College.