Wittenbach, an Argosy Portfolio Company, Acquires The Gilbertson Group

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Dec 13, 2022, 12:29 ET

WAYNE, Pa., Dec. 13, 2022 /PRNewswire/ -- Argosy Private Equity, a lower middle market private equity firm, today announced the acquisition of The Gilbertson Group by Argosy's portfolio company, Wittenbach.

The Gilbertson Group (TGG), a second-generation family-owned, UL-Listed company, has been providing security solutions to financial, education, healthcare, commercial, pharmaceutical, government, retail, and property management customers for over 30 years. TGG specializes in physical and electronic security systems integration, retail delivery solutions and security consulting, working with the financial and commercial sectors of the Mid-Atlantic region, while also supporting customers throughout the U.S. and Canada.

For over four decades, Wittenbach has delivered cash automation, physical security and electronic security products to regional community and nationally known banks, credit unions and financial institutions. The company's branch transformation solutions help improve operational efficiencies, increase productivity, reduce costs, and ensure regulatory compliance. Based in Maryland, Wittenbach services customers throughout the Midwest and East Coast.

The acquisition of The Gilbertson Group will further enhance the growth of Wittenbach by providing increased density in an important region for Wittenbach and its customers. The combined company will be enabled to better serve their combined customer base, execute cross-selling opportunities in the financial institution sector while expanding into government and commercial sectors across their footprint.

Integration is already underway. The Wittenbach and TGG management teams, along with Argosy, are actively working on executing Argosy's Value Acceleration Methodology (VAM™) acquisition toolkit to integrate the operations, realize synergies between the companies, and continue to grow the combined company.

"We are thrilled for TGG to join our Wittenbach team. We look forward to leveraging the combined strength of both companies to provide even better services and support to our many customers across the PA, DE, and MD markets," said Don Charlton, Partner, Argosy Private Equity and Chairman of Wittenbach.

About Wittenbach

Wittenbach has provided world-class cash handling, physical security, and electronic security since 1974. Over 350 employees strong, we service customers throughout the Midwest and East Coast.

About Argosy Private Equity

Argosy Private Equity, founded in 1990, specializes in providing capital and operating and financial expertise to lower middle market companies across a broad range of industries. Argosy partners with motivated management teams investing in companies with sustainable competitive advantages and attractive growth prospects. Argosy Private Equity is a division of Argosy Capital Group, Inc. ("Argosy Capital") together with Argosy Real Estate Partners, Argosy Credit Partners, Argosy Strategic Partners, and Argosy Healthcare Partners. Argosy Capital is an investment adviser with approximately $3.1 billion of assets under management. All of the Argosy Capital funds focus on lower middle market investment strategies.

For further information, please visit:
Argosy Private Equity: www.argosype.com
Wittenbach: www.wittenbach.com

Contact:

Argosy Private Equity
Sarah Busch
[email protected]

Wittenbach
Janet Kaplan
[email protected]

SOURCE Argosy Private Equity