Argosy Exits Climax Portable Machine Tools

On June 25, 2013, Argosy exited its investment in Climax Portable Machine Tools, Inc. Climax was to a San Francisco based private equity fund.

Headquartered in Newberg, Oregon, Climax is the leading global manufacturer of portable machine tools and welding systems used in a diverse set of industrial end markets. The Company’s portable machining solutions are principally used in maintenance, repair and overhaul applications where the work is performed at the installed location of the equipment requiring servicing. Typical applications include reshaping or resizing metal or other rigid materials through boring, flange facing, grinding, machining and turning. Climax has a well-established global footprint with production facilities and sales offices in the U.S. (west and east coasts), Germany, Poland and the U.K., and 16 rental depots and 34 distributors worldwide.