Argand Partners, LP (“Argand”), the New York-based middle-market private equity firm, with offices in the San Francisco Bay Area and Miami, today announced a dividend recapitalization of its portfolio company, Sigma Engineered Solutions (“Sigma” or the “Company”), a global supplier of precision metal components servicing a variety of industrial markets including electrical, power transmission & distribution, and instrumentation. The Company’s headquarters and distribution center is located in Garner, North Carolina, with manufacturing facilities in India, Mexico, and the United States.
“We are thrilled about the growth at Sigma and the wonderful job CEO Brad Ward and his team have done expanding its customer base, building on its competitive advantages, and delivering exceptional results,” said Charlie Burns, Partner at Argand Partners. “With this transaction, we are excited to accomplish the twin objectives of creating operational flexibility and returning capital to our investors. Over our ownership, Sigma has grown into a differentiated global supplier, and we’re excited about supporting its next phase of growth.”
“This transaction is a strong endorsement of the progress we’ve made and the opportunities ahead,” said Brad Ward, CEO of Sigma Engineered Solutions. “Argand has been a tremendous partner, supporting our vision and investing in the tools we need to scale. We’re excited to continue building on our momentum and delivering value to our customers and stakeholders.”
Heather Faust, Managing Partner at Argand Partners, added, “Sigma’s engineering expertise, vertically integrated global supply chain, and world-class manufacturing footprint have positioned them as a trusted partner to leading multinational OEMs. Sigma has ever-growing importance with its customers because of its unique combination of just-in-time distribution capabilities coupled with operational excellence in design, metal forming, precision machining, and finishing for metal components and assemblies on a worldwide scale.
Ares Management and Apogem Capital participated in the upsizing of the credit facility in connection with the transaction.
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