TULSA, Okla.--(BUSINESS WIRE)--Argonaut Private Equity, a private equity firm focused on investing in Middle America, has announced a partnership with Layco Electric Innovations (LEI), a Tulsa, Oklahoma-based company that provides a wide range of product offerings including manufacturing electrical equipment and servicing motors.
Layco’s products address a variety of applications and critical end markets that include petrochemical, manufacturing, renewable energy and data centers, a growing need across the domestic market as artificial intelligence advances.
“Argonaut is excited to partner with Layco Electric Innovations to help accelerate their growth by providing expertise around operational efficiency and by bringing a structured approach to rapid growth in an expanding industry,” said Steve Mitchell, Argonaut CEO and Managing Director.
LEI is currently building a large state-of-the-art manufacturing facility in Tulsa to help boost growth in this mission-critical space. “As America’s energy demand continues to grow, the supporting infrastructure and capacities will need to expand exponentially,” Mitchell added. “We believe partnering with LEI will help make meeting the demand a reality.”
Added Mike Lay, CEO of LEI: “Our work is in a critical space at this time in America, and we couldn’t be more enthusiastic about working together with Argonaut to grow and expand.”
As two Tulsa-based companies, the alignment is primed for expansion, Mitchell added.
“This is one more step to creating substantive growth in the manufacturing market,” he said. “It’s a perfect fit and benefits Tulsa.”
Argonaut recently closed on its Fund V, a $500 million fund, that continues its strategy of partnering with family-owned businesses in the manufacturing, industrial and services sectors.
About Layco Electric Innovations (LEI)
Layco Electric Innovations is a proven provider of electric motors, industrial control and power distribution solutions for a wide range of industries. The company has been based in Tulsa, Oklahoma since 1945.
About Argonaut Private Equity
Founded in 2002, Argonaut Private Equity is a Tulsa, Oklahoma-based private equity firm with $2.9 billion of assets under management. Argonaut partners with companies to develop a strategy for accelerating growth and enhancing operations. For more information, please visit www.argonautpe.com.