Argosy-backed Groome Industrial Service Group buys controlled explosives provider BSI

Groome is a provider of specialty maintenance services.

  • BSI was founded in 2002
  • Argosy Private Equity targets the lower middle market

Groome Industrial Service Group, which is backed by Argosy Private Equity, has acquired Utah-based Blasting Solutions Inc, a provider of controlled explosives. No financial terms were disclosed.

Groome is a provider of specialty maintenance services.

BSI was founded in 2002.

“We are thrilled about the combination of Groome and BSI. We believe BSI’s focus on research and development, and its experienced professionals differentiate it in the niche market of the explosive industry, and will complement Groome’s continued focus on safety, efficiency, and innovation.” said Keven Shanahan, a partner at Argosy Private Equity, in a statement.

Founded in 1990, Argosy Private Equity targets the lower middle market.