AP Services, Inc.
On September 15, 2010, Argosy Private Equity invested in AP Services, Inc. Headquartered in Freeport, PA, AP Services is a manufacturer and value-added distributor of gaskets and sealing technologies and provides technical services to nuclear and fossil fuel power plant facilities. Based on its history and reputation of providing engineered, technology-driven sealing solutions, the Company maintains a blue-chip customer base composed of many of the largest power generation utilities in the United States and Canada.
Led by a strong management team, AP Services is positioned to experience substantial growth over the next several years due to additional product and service offerings, expansion into international sales channels and attractive industry dynamics. Argosy participated in both the equity and subordinated debt alongside Plexus Capital and Triangle Capital. Doug Van Tassell, CEO, has been with AP Services for 15 years, will have a significant ownership position in the Company, and will be responsible for leading the growth of AP Services going forward. Argosy IV’s financing partially funded the purchase of AP Services, which was founded in 1972.