Argosy Private Equity Exits Flow Dry Technology, Inc.
Argosy Investment Partners V, L.P. and its parallel fund, both managed by Argosy Private Equity (“Argosy”), exited their investments in Flow Dry Technology. Flow Dry was acquired by Filtration Group, a Madison Industries company.
Founded in 1946, Flow Dry is a leading designer and manufacturer of highly innovative, integrated solutions for the automotive, industrial, and healthcare industries. The company’s products include desiccant bags, value-added assemblies, and other sealant solutions to protect valuable systems from costly moisture damage.
Flow Dry is headquartered in Brookville, Ohio and has additional manufacturing facilities in China and Hungary. The global footprint combined with a sophisticated global supply chain allows the company to sell products to customers and distributors worldwide.
Argosy acquired Flow Dry in September 2014. Argosy immediately began to implement its Value Acceleration Methodology (“VAM”) and over the course of its five-year hold, worked with management to develop strategies to drive growth and profitability. The company implemented SAP and was awarded IATF 16946 automotive certifications in each of its three facilities. In addition, Flow Dry recently expanded its value-added assembly capabilities into China and Europe.