WAYNE, Pa., April 17, 2024 /PRNewswire/ -- Argosy
Private Equity, a lower middle market private equity firm,
today announced it acquired a controlling interest in Federal
Rent-A-Fence. LLC ("Federal" or the "Company").
Federal is a temporary chain link fence rental business
providing services to construction sites and events. Founded in
1993 by Sue and Rob Orthey and
headquartered in West Berlin, NJ,
the Company has established 15 branches across the East Coast and
Midwest. Federal's product offerings include post-driven and panels
of chain-link fencing, gate frames, windscreen and other site prep
accessories. The Company emphasizes quality service, fence
availability, and timely installation and removal to maintain
customer satisfaction.
Federal has achieved significant regional expansion and benefits
from strong customer relationships. Repeat customers make up to
approximately 90% of the Company's revenue, with no significant
customer concentration. We believe Federal's market position,
strong culture, and experienced team prepares the Company for
expansion opportunities.
"Federal is a widely known name in the industry and one of the
largest pure-play fence rental companies in the market. We believe
this, coupled with the people-first culture the management team has
fostered, positions the Company well for additional growth
opportunities. Leveraging our experience in the rental equipment
industry, we aim to continue to add value," said Don Charlton, Partner at Argosy Private
Equity.
"For over 30 years, we have been the trusted choice for the
construction and special events industries. Our diverse fence
products ensure job site security and liability avoidance, while
our commitment to superior customer service remains unwavering. We
are excited about this partnership with Argosy and look forward to
continued growth while delivering efficient and tailored solutions
to our customers," said Rob Orthey,
Founder of Federal.
Argosy has begun execution of its Value Acceleration Methodology
(VAM™) alongside management to help add value to several
key areas of the business. Primary aspects of the value creation
plan include professionalizing sales and marketing processes
through digitization and strategic planning, as well as building a
dedicated sales team. Argosy, along with the management team see
the potential for acquisition opportunities to support regional
expansion and fleet growth.
"We are thrilled to partner with Joe
Orthey and the entire Federal Rent-A-Fence team. Leveraging
the culture and reputation the Orthey's built over the last 30
years, we are excited to invest in this business and unlock new
potential," said John Broderick,
Operating Partner at Argosy Private Equity.
Argosy continues to seek platform investments for its sixth fund
and add-on acquisition opportunities for the existing portfolio.
Argosy aims to partner with and invest in lower middle market niche
manufacturing and business-to-business services companies that have
a substantial ability to grow.
About Argosy Private Equity
Argosy Private Equity, founded in 1990, specializes in providing
capital and operating and financial expertise to lower middle
market companies across a broad range of industries. Argosy
partners with motivated management teams investing in companies
with sustainable competitive advantages and attractive growth
prospects. Argosy Private Equity is a division of Argosy Capital
Group, Inc. ("Argosy Capital") together with Argosy Real Estate
Partners, Argosy Credit Partners, Argosy Strategic Partners, and
Argosy Healthcare Partners. Argosy Capital is an investment adviser
with approximately $3.4 billion of
assets under management. All of the Argosy Capital funds focus on
lower middle market investment strategies.
For further information, please visit: www.argosype.com
Contact:
Argosy Private Equity
Sarah Busch
sbusch@argosycapital.com
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SOURCE Argosy Private Equity