Argosy Invests in Nationwide Industries
On February 11, 2016, Argosy acquired a controlling ownership interest in a new platform company, Nationwide Industries, Inc.
Founded in the early 1990s, Nationwide is a manufacturer and distributor of fence, deck, railing and patio hardware. The Company offers a full line of products suitable for use with any type of end material, including vinyl, aluminum, chain-link and wood. Its products range from handles and post caps to fully adjustable hinges and key lockable latches. The majority of the Company’s manufacturing operations are outsourced to 14 factories located in China, Taiwan and India. Nationwide has a five person dedicated team in China that ensures quality and timely delivery. The Company was acquired from its public parent, P&F Industries, Inc., (NASDAQ – PFIN) and the entire existing management team will remain with the Company post-closing.
NWI’s management team is excited to partner with a growth-oriented ownership group. The Company will continue to build on its reputation as an industry leader in product design and innovation and expand its product offerings in response to market shifts. Argosy will also be actively looking for add-on acquisitions of companies with complementary product lines to increase the Company’s market share in a fragmented industry.