Argand Partners [“Argand”], the New York-based private equity firm, today announced its acquisition of Sigma Electric Manufacturing [“Sigma”]. Terms of the transaction were not disclosed.
Founded over 30 years ago, Sigma is a leading provider of small, technically complex, metal components to multi-national companies serving the North American commercial infrastructure, power transmission, and industrial products markets. The Company uses proprietary precision die-casting and sand-casting manufacturing technologies to produce customized components with complex shapes and tight tolerances across a broad range of metals and alloys. Sigma’s U.S. headquarters are in Garner [Raleigh Durham], North Carolina. The Company operates nine world-class manufacturing plants in India. Argand plans to work closely with Sigma management to support the Company through the next phase of its growth plans.
Viren Joshi, Sigma’s President and Chief Executive Officer; said, “We are delighted to partner with Argand in this next stage of our Company’s growth. Argand brings a significant level of manufacturing and industrial market experience in addition to global networks, which will assist us as we look to expand our market presence and geographic footprint.”
Tariq Osman, Partner and Managing Director at Argand, added, “We believe Sigma offers customers a unique value proposition and has a truly differentiated position as a global supplier in the precision metal components marketplace. We see exciting potential for further expansion into new markets and geographies. We are looking forward to working with Viren Joshi and his highly experienced management team to build on the success already achieved at Sigma.
The acquisition is supported by a loan facility provided by Brightwood Capital Advisors, LLC. Winston & Strawn LLP acted as US legal counsel and Luthra & Luthra Law Officers acted as Indian legal counsel to Argand.
About Argand Partners
Argand is a New York-based middle market buyout firm founded in 2015 by long-time colleagues, Heather Faust, Howard Morgan, and Tariq Osman. Argand is a value-oriented, control investor, focused on complex, often contrarian, situations that involve solid, market-leading industrial businesses.
The Argand team has a disciplined approach of investing in businesses that have the potential for transformational value creation through the implementation of managerial, operating and strategic initiatives. Argand focuses on investments into industrial manufaturers and service providers, where the team has deep sector experience and can leverage its senior executive advisory network to drive the rapid execution of an investment thesis. Further information on Argand can be found on the website:
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