News Releases
Argosy Private Equity Exits ACL Airshop
May 18, 2021
WAYNE, Pa., May 18, 2021 /PRNewswire/ -- Argosy Private Equity, a lower middle market private equity firm, today announced the sale of
ACL Airshop to Alinda Capital Partners, an infrastructure investment firm.
Founded in 1983, ACL Airshop is a global leader in air cargo Unit Load Device (ULD) solutions provider to the air cargo industry. The company leases, manages, sells, and repairs ULDs and manufactures cargo nets, straps, and related equipment. Today, ACL Airshop operates around the world on six continents with service capabilities at over 50 of the world's top 100 cargo hub airports.
In February 2016, Argosy led an acquisition of the business along with Steve Townes, a repeat CEO for Argosy. Immediately following the investment, the ACL management team began an aggressive growth plan which included the implementation of specific tools from Argosy's Value Acceleration Methodology ("VAM™"). ACL expanded and diversified its customer base, added new strategic locations around the world and rolled out the Company's tech-enabled ULD management software, ULD Control™.
"ACL Airshop's entrepreneurial and customer driven management team, led by aviation industry icon and four-time repeat Argosy portfolio company CEO, Steve Townes, transformed a great air cargo logistics business into an industry leading, technology-enabled, critical infrastructure company. We look forward to seeing where ACL's growth trajectory will take it next," said Kirk Griswold, Founding Partner, Argosy Private Equity.
"Argosy and I have successfully partnered together since late 2001 across four separate growth platforms over the years. Argosy's VAM™ tools have always been very helpful in driving growth and value creation. With our latest venture together, ACL Airshop, we achieved excellent growth in operations and profitability, and drove to a successful well-valued exit despite the global pandemic," said Steve Townes, the CEO at ACL.
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 $1.7 billion of assets under management. All of the Argosy Capital funds focus on lower middle market investment strategies.
