Joliet Holdings, LLC
On December 1, 2008, Argosy Private Equity invested in Joliet Holdings, LLC (www.joliet-equipment.com). Headquartered in Joliet, IL (located approximately one hour southwest of downtown Chicago), Joliet manufactures, distributes and repairs large, electric industrial motors. A primary focus of its business is on the sale of DC and AC electric traction motors to the oil and gas drilling industry, primarily to rig manufacturers and drilling contractors. In addition, Joliet services, repairs and remanufactures DC and AC electric motors for use in a variety of other industries, including automobile shredding, marine propulsion, power generation and rail transportation.
MTN Capital (www.mtncapital.com), along with the company’s management team, co-invested with Argosy Private Equity. Mr. Robert LeBlanc has been introduced by the investors as an operating partner to work with Joliet’s management. Previously, Mr. LeBlanc was President and CEO of Handy & Harman ($400 million diversified manufacturer or electronic materials, specialty fasteners and connectors, among other products) and Executive Vice President of Elf Atochem North America ($1.7 billion specialty chemical and polymer company).