Enefco International, Inc.
On June 17, 2011, Argosy Investment Partners IV, L.P. (“Argosy”) acquired a controlling ownership interest in Enefco International, Inc. (“Enefco” or the “Company”). Founded in 1973, Enefco is a leading manufacturer of cleaning cards, cosmetic foam applicators, leatherboard shoe counters and industrial dies. The Company is highly respected for its product quality and commitment to innovation. Enefco is based in Auburn, Maine, and has additional operations in San Diego, California and Belfast, Northern Ireland.
The Company has developed a proprietary line of cleaning card products utilizing its patented “Waffletechnology” design. Waffletechnology incorporates spring-loaded raised areas on the cleaning card designed to reach hard-to-clean areas of imaging and acceptance devices such as check scanners, ATM machines and POS credit card readers. Waffletechnology provides a significant improvement in cleaning efficiency and effectiveness over conventional (flat) cleaning cards and is available in more than 100 proprietary designs covering a wide range of electronic equipment.