On February 11, 2011, Argosy Investment Partners IV, L.P. invested preferred equity to fund the recapitalization of Autocrat, Inc., a family-owned business founded in 1895. Headquartered in Lincoln, RI, Autocrat (www.autocrat.com) is a leading coffee extract provider and one of the largest coffee roasters in New England. The Company also operates a regional food service coffee business and has a small retail presence under the Autocrat and Newport Coffee Traders brands.
The transaction was co-led by Argosy and Trent Capital Partners, a lower middle-market sponsor group based in Naples, FL. The sellers and management also made substantial rollover investments into the equity of the recapitalized company.