Flow Dry Technology was acquired by an affiliate of Argosy Private Equity
THE TRANSACTION
In September 2014, Flow Dry was acquired by an affiliate of Argosy Private Equity.
Our Client
FLOW DRY TECHNOLOGY, INC.
Flow Dry Technology, Inc. (“Flow Dry” or the “Company”) is a leading provider of moisture control products and gaskets to the global automotive, healthcare and industrial markets. The Company is the leading provider of desiccants used in HVAC systems in automobiles in the United States, with a significant international market share. The Company is headquartered in Brookville, OH, with sales, engineering and manufacturing operations in Brookville, Komarom, Hungary and Zhangjiagang, China.
BLACKSTREET CAPITAL
Blackstreet Capital (“Blackstreet”) is a Chevy Chase, MD-based private equity firm. Blackstreet focuses on control buyouts of under-performing corporate orphans with $25-$150 million of revenue, primarily located in the eastern half of the United States. To date, Blackstreet has invested in 30 companies with combined sales in excess of $1.5 billion and over 8,000 employees.
Transaction Partner
ARGOSY PRIVATE EQUITY
Argosy Private Equity, based outside of Philadelphia, PA, is part of the Argosy Capital fund family, which manages $500 million in private equity capital and invests in management and leveraged buy-outs, recapitalizations, corporate divestitures, growth financings and generational transitions of family owned businesses. Since 1990, Argosy Private Equity’s experienced investment team has provided operating and financial expertise to lower middle market companies across a broad range of industries.
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