Argonaut Private Equity has acquired Illinois-based Miller Contracting, a provider of specialty mining, industrial, and civil contracting services. No financial terms were disclosed.
TULSA, Okla.–(BUSINESS WIRE)–Argonaut Private Equity, a Tulsa, Okla.-based private equity fund, announced the acquisition of Miller Contracting, a family-founded company providing specialty mining, industrial, and civil contracting services across the United States from its headquarters in southern Illinois.
The acquisition is particularly significant because it coincides with the first closing of Argonaut Private Equity Fund V, LP., which is targeting $400 million in commitments. Fund V will continue Argonaut’s disciplined investing in founder-led manufacturing and industrial businesses in Middle America where shared values brings strong relationships.
“This is an exciting time for Argonaut as we combine our resources with the tremendous culture of character and integrity that has been passed from one generation to the next at Miller,” said Argonaut CEO Steve Mitchell. “It’s a fitting initial investment in Fund V that aligns perfectly with Argonaut’s investment thesis and represents the tremendous momentum we’re experiencing already in 2022.”
The Miller family will continue its leadership in the company as they expand their reach.
“Our family and team believe the best value we can bring to our customers comes from outstanding quality delivered by honest and hardworking professionals,” said CEO Matthew Miller. “In Argonaut, we found partners as hardworking and dedicated to our culture as we are and that will add to our ability to grow the company and serve our customers as we always have.”
Founded in 2001, Miller is an innovative contracting services company that has established itself as a market leader, proven to deliver outstanding efficiency, quality, and jobsite safety with each of its projects. The company has grown from a provider of commercial and agricultural concrete services to become a trusted contractor for mining, industrial, and civil market segments.
About Argonaut Private Equity
Founded in 2002, Argonaut Private Equity is a Tulsa-based private equity firm with more than $2 billion of capital deployed in direct investments across the manufacturing and industrials sectors. Argonaut partners with companies to develop a strategy for accelerating growth and enhancing operations.