Argonaut Private Equity

Argonaut Private Equity, established in 2002 and headquartered in Tulsa, Oklahoma, is a private equity firm registered as an Investment Adviser. It focuses on investing in transformational growth opportunities within the energy services, manufacturing, and industrial sectors across the United States and Central America. The firm typically seeks majority stakes in its portfolio companies.

Kelby Hagar

President and Managing Director

Anil Khatod

Managing Director

34 past transactions

Pryer Aerospace

Acquisition in 2025
Pryer Aerospace, LLC is a manufacturer based in Tulsa, Oklahoma, specializing in the production of structural components, assemblies, and kits for the aerospace industry. Founded in 1965, the company focuses on the fabrication of sheet metal, machined components, and composites for commercial, corporate, and military aircraft applications. Pryer Aerospace offers a diverse range of services including precision machining, CNC milling, deep draw forming, and fluid cell hydroforming, ensuring components meet exact specifications for critical areas such as flight controls, cabins, wings, engines, and thrust reversers. Additionally, the company provides engineering collaboration, product development, assembly, and project management services to facilitate efficient processes throughout the development and delivery of aerospace products.

Hammer & Steel

Acquisition in 2024
Hammer & Steel is a supplier of drilling and pile-driving equipment, catering to the construction, civil engineering, and infrastructure development sectors in the U.S. and Canada. The company offers both sales and rental options for its equipment, which includes piling rig products, drilling tools, tieback drill rigs, and pile driving and grout equipment.

Center Rock

Acquisition in 2023
Center Rock Inc. is a manufacturer and distributor of air drilling tools and products, specializing in a comprehensive range of equipment designed for various industries, including oil and gas, construction, mining, and infrastructure. The company's product lineup includes low profile canister drills, down-the-hole hammers and bits, air compressors, and trailers, among other tools. In addition to manufacturing, Center Rock offers a suite of services such as bit and hammer repair, custom machining, and product consultation. The company caters to a diverse customer base across North America, Europe, Asia, the Russian Federation, and Australia, ensuring optimum performance in challenging operating conditions. Established in 1998, Center Rock is headquartered in Berlin, Pennsylvania, with additional locations in Virginia, Wisconsin, Arkansas, and Colorado.

Miller Contracting

Acquisition in 2022
Miller Contracting is an innovative contracting services company that has established itself as a market leader, proven to deliver outstanding efficiency, quality, and Jobsite safety with each of its projects. The company has grown from a provider of commercial and agricultural concrete services to become a trusted contractor for mining, industrial, and civil market segments.

Crimson Steel Supply

Acquisition in 2021
Crimson Steel Supply is a full-service rebar fabricator and wire mesh supplier, specializing in the fabrication of highway and roadway structural steel. Established in 2010 and headquartered in Tulsa, Oklahoma, the company serves the construction industry by providing a wide range of fabrication products, including rebar, wire mesh, structural steel components, expansion joints, bearing assemblies, and handrails. Crimson Steel Supply is committed to delivering reliable fabrication services tailored to the needs of non-residential and infrastructure markets, ensuring quick turnaround times and exceptional customer service. The company focuses on continuous improvement and strives to meet the demands of its clients efficiently and effectively.

Alkami

Series E in 2019
Alkami Technology, Inc. is a provider of cloud-based digital banking solutions tailored for credit unions and banks. The company offers the ORB Platform, a comprehensive Software-as-a-Service solution that facilitates retail and business banking features including account aggregation, person-to-person payments, payroll management, and analytics. Alkami's platform enhances user onboarding, engagement, and account servicing, allowing financial institutions to improve operational efficiency and drive revenue growth. Additionally, it includes integrated mobile banking solutions, a content management system for personalized marketing, and the flexibility to incorporate third-party solutions. Founded in 2007 and headquartered in Plano, Texas, Alkami was previously known as iThryv, LLC before rebranding in 2010.

Mammoth Carbon Products

Acquisition in 2019
Mammoth Carbon Products, LLC is a distributor of carbon steel pipes, specializing in electric resistance welded, seamless, and spiral welded pipes. The company offers a wide range of products including various grades of A-252, API5L, ASTM, and custom specifications to cater to the needs of the energy, petrochemical, and construction markets. Founded in 2014 and based in The Woodlands, Texas, Mammoth Carbon Products also has additional offices in Scottsdale, Denver, and San Francisco. In addition to its distribution capabilities, the company provides pipe calculator services to assist customers in calculating pipe weight and pricing. Committed to maintaining professionalism, honesty, and ethical practices in all dealings, Mammoth Carbon Products aims to deliver optimal outcomes for its stakeholders.

Alkami

Series D in 2018
Alkami Technology, Inc. is a provider of cloud-based digital banking solutions tailored for credit unions and banks. The company offers the ORB Platform, a comprehensive Software-as-a-Service solution that facilitates retail and business banking features including account aggregation, person-to-person payments, payroll management, and analytics. Alkami's platform enhances user onboarding, engagement, and account servicing, allowing financial institutions to improve operational efficiency and drive revenue growth. Additionally, it includes integrated mobile banking solutions, a content management system for personalized marketing, and the flexibility to incorporate third-party solutions. Founded in 2007 and headquartered in Plano, Texas, Alkami was previously known as iThryv, LLC before rebranding in 2010.

Alkami

Series C in 2017
Alkami Technology, Inc. is a provider of cloud-based digital banking solutions tailored for credit unions and banks. The company offers the ORB Platform, a comprehensive Software-as-a-Service solution that facilitates retail and business banking features including account aggregation, person-to-person payments, payroll management, and analytics. Alkami's platform enhances user onboarding, engagement, and account servicing, allowing financial institutions to improve operational efficiency and drive revenue growth. Additionally, it includes integrated mobile banking solutions, a content management system for personalized marketing, and the flexibility to incorporate third-party solutions. Founded in 2007 and headquartered in Plano, Texas, Alkami was previously known as iThryv, LLC before rebranding in 2010.

JAC Products

Acquisition in 2016
JAC Products, Inc. is a manufacturer and supplier of automotive exterior functional components, specializing in roof carrier systems and a variety of extrusions and assemblies for the automotive industry. Founded in 1967 and headquartered in Pontiac, Michigan, the company serves original equipment manufacturers (OEMs) worldwide, offering a diverse range of products including roof racks, cargo management systems, step rails, and custom aluminum extrusions. JAC Products also provides technical services such as product development, advanced design, and engineering support, alongside comprehensive manufacturing capabilities that include injection molding and aluminum extrusion. With additional facilities in locations across North America, South America, Europe, and Asia, JAC Products is committed to delivering high-quality functional exterior trim products to its clients efficiently and competitively.

Pivot3

Series H in 2016
Pivot3, based in Palo Alto, is an IT company focused on simplifying data center operations by unifying storage, compute, and network resources into streamlined solutions. Founded with the goal of reducing cost, risk, and complexity, Pivot3 has developed technologies that have enabled thousands of enterprises globally to achieve their IT and business objectives. The company offers Dynamic Hyperconverged Infrastructure and PCIe Flash Arrays, which enhance resource utilization and ensure high availability for mission-critical applications. Pivot3's solutions deliver significant business benefits, including lower total cost of ownership, uninterrupted revenue generation, and improved customer satisfaction. With a diverse product portfolio optimized for various applications such as server virtualization, data center consolidation, and disaster recovery, Pivot3 has successfully deployed over 16,000 systems in 53 countries, serving a wide range of industries including energy, aerospace, logistics, and retail.

Siklu

Series D in 2015
Siklu Communication Ltd. is a technology company based in Petach Tikva, Israel, that specializes in developing gigabit throughput E-band and V-band radio solutions. Founded in 2007, Siklu provides a range of millimeter wave wireless connectivity products designed for service providers, mobile operators, and various enterprises, including government and security networks. The company’s offerings encompass small cell backhaul, LTE and WiFi backhaul, business broadband connectivity, and solutions for smart city networks, as well as residential broadband services. Siklu's technology is noted for its scalability, multigigabit capacity, and reliability, making it suitable for deployment in urban, suburban, and rural environments, particularly in 5G backhaul applications.

Pivot3

Series G in 2015
Pivot3, based in Palo Alto, is an IT company focused on simplifying data center operations by unifying storage, compute, and network resources into streamlined solutions. Founded with the goal of reducing cost, risk, and complexity, Pivot3 has developed technologies that have enabled thousands of enterprises globally to achieve their IT and business objectives. The company offers Dynamic Hyperconverged Infrastructure and PCIe Flash Arrays, which enhance resource utilization and ensure high availability for mission-critical applications. Pivot3's solutions deliver significant business benefits, including lower total cost of ownership, uninterrupted revenue generation, and improved customer satisfaction. With a diverse product portfolio optimized for various applications such as server virtualization, data center consolidation, and disaster recovery, Pivot3 has successfully deployed over 16,000 systems in 53 countries, serving a wide range of industries including energy, aerospace, logistics, and retail.

Pivot3

Series E in 2014
Pivot3, based in Palo Alto, is an IT company focused on simplifying data center operations by unifying storage, compute, and network resources into streamlined solutions. Founded with the goal of reducing cost, risk, and complexity, Pivot3 has developed technologies that have enabled thousands of enterprises globally to achieve their IT and business objectives. The company offers Dynamic Hyperconverged Infrastructure and PCIe Flash Arrays, which enhance resource utilization and ensure high availability for mission-critical applications. Pivot3's solutions deliver significant business benefits, including lower total cost of ownership, uninterrupted revenue generation, and improved customer satisfaction. With a diverse product portfolio optimized for various applications such as server virtualization, data center consolidation, and disaster recovery, Pivot3 has successfully deployed over 16,000 systems in 53 countries, serving a wide range of industries including energy, aerospace, logistics, and retail.

Excellence Engineering

Private Equity Round in 2014
Excellence Engineering, LLC is a comprehensive engineering firm based in Tulsa, Oklahoma, established in 2001. The company specializes in providing engineering, procurement, project management, and automation services primarily to the oil and gas, petrochemical, and energy sectors. Its expertise encompasses a wide range of services, including civil and structural design, mechanical design, automation and controls engineering, process design, and instrumentation and electrical design. Excellence Engineering supports various projects such as pump and compressor stations, metering and sampling systems, and terminals for truck, rail, and marine transport, as well as plant and refinery upgrades. Additionally, the company offers construction support, process safety management, and installation and maintenance services for public sector projects, demonstrating a commitment to facilitating energy independence and meeting the evolving needs of its diverse clientele.

Aspen Aerogels

Debt Financing in 2012
Aspen Aerogels, Inc. is a leading company in the aerogel technology sector, specializing in the design, development, manufacture, and sale of high-performance insulation products. Founded in 2001 and headquartered in Northborough, Massachusetts, the company primarily serves the energy infrastructure and building materials markets globally. Its product lineup includes Pyrogel XTE, Pyrogel HPS, and Cryogel Z, which are tailored for various applications, including power generation and cryogenic systems. Aspen Aerogels also offers solutions like Spaceloft, designed for both offshore oil production and building materials. The company's insulation solutions are recognized for their superior thermal efficiency, often outperforming traditional materials by up to eight times. Additionally, Aspen Aerogels engages in research and development activities, collaborating with U.S. government agencies and other institutions to advance aerogel technology.

Siklu

Series B in 2011
Siklu Communication Ltd. is a technology company based in Petach Tikva, Israel, that specializes in developing gigabit throughput E-band and V-band radio solutions. Founded in 2007, Siklu provides a range of millimeter wave wireless connectivity products designed for service providers, mobile operators, and various enterprises, including government and security networks. The company’s offerings encompass small cell backhaul, LTE and WiFi backhaul, business broadband connectivity, and solutions for smart city networks, as well as residential broadband services. Siklu's technology is noted for its scalability, multigigabit capacity, and reliability, making it suitable for deployment in urban, suburban, and rural environments, particularly in 5G backhaul applications.

Crown Bioscience

Series C in 2011
Crown Bioscience International, through its subsidiary Crown Bioscience Inc., is a global company specializing in drug discovery and development solutions. Founded in 2006 and based in Taipei, Taiwan, the company focuses on providing translational platforms for oncology, cardiovascular, and metabolic diseases, helping biopharmaceutical companies enhance drug efficacy and patient response while minimizing clinical failures. Crown Bioscience offers a comprehensive range of products, including antibodies for in vivo and in vitro studies, recombinant proteins, and tumor tissue microarrays, as well as integrated preclinical testing services. The firm has established strategic partnerships, including collaborations with the Shanghai Model Organisms Center and Hubrecht Organoid Technology, to advance its capabilities in genetically engineered models and organoid-based preclinical drug development. With facilities in the United States, United Kingdom, China, and Taiwan, Crown Bioscience serves the biotech and pharmaceutical industries worldwide, facilitating the acceleration of new drug development programs.

Yulex

Venture Round in 2011
Yulex Corporation is a leader in the production of natural rubber materials derived from the guayule plant. Founded in 1997 and headquartered in Chandler, Arizona, with an additional office in San Diego, the company specializes in non-sensitized natural rubber and offers a range of products, including guayule-based specialty rubber, emulsion rubber, and solid natural rubber. Yulex is committed to sustainable practices and is focused on eliminating the use of toxic fire retardants by providing plant-based rubber that naturally suppresses flames. The company leverages advancements in plant breeding, biotechnology, and proprietary processing technologies to support a growing international medical industry and promote sustainable clean technology, particularly in arid regions. Yulex also offers custom compounding, adhesive and foam formulation, along with training and consulting services to meet the needs of its clients.

Aspen Aerogels

Venture Round in 2010
Aspen Aerogels, Inc. is a leading company in the aerogel technology sector, specializing in the design, development, manufacture, and sale of high-performance insulation products. Founded in 2001 and headquartered in Northborough, Massachusetts, the company primarily serves the energy infrastructure and building materials markets globally. Its product lineup includes Pyrogel XTE, Pyrogel HPS, and Cryogel Z, which are tailored for various applications, including power generation and cryogenic systems. Aspen Aerogels also offers solutions like Spaceloft, designed for both offshore oil production and building materials. The company's insulation solutions are recognized for their superior thermal efficiency, often outperforming traditional materials by up to eight times. Additionally, Aspen Aerogels engages in research and development activities, collaborating with U.S. government agencies and other institutions to advance aerogel technology.

eYantra Industries

Venture Round in 2010
eYantra Industries Private Limited is a brand merchandising and corporate gifting company based in Ranga Reddy, India. Established in 2000, the company specializes in providing various solutions to enhance brand engagement and loyalty among customers and employees. Its offerings include Confix, an online brand store solution that allows companies to provide branded merchandise to their workforce, as well as RewardX, a tailored program for employee recognition aligned with business goals. Additionally, eYantra features LoyaltyX, a technology-driven solution aimed at enhancing loyalty incentives, and RetailX, which assists in establishing physical retail locations with comprehensive support for design and merchandise. The company also provides consulting services through BrandX to optimize merchandise strategies. With a presence in major Indian cities such as Bangalore, Mumbai, Delhi, and Chennai, eYantra strives to connect stakeholders with brands effectively.

Luminus Devices

Venture Round in 2010
Luminus Devices is a developer and manufacturer of high-performance solid-state lighting solutions, focusing on its patented PhlatLight LED technology. This innovative technology offers high light output and versatility, enabling a wide range of applications in the global illumination market, including projection displays, entertainment, and general lighting. Luminus Devices aims to redefine the solid-state lighting landscape by creating advanced lighting products that were previously deemed impossible with traditional lighting technologies. Their PhlatLight LEDs are utilized by leading global companies in diverse consumer and specialty markets.

Loylty Rewardz

Venture Round in 2009
Loylty Rewardz is a B2B loyalty and rewards management company based in Mumbai, India, that specializes in providing comprehensive services for consumer loyalty and relationship management. Founded in 2006, the company assists clients in conceptualizing, developing, and operating loyalty programs, emphasizing best practices and processes to foster sustainable customer relationships. Its platform encompasses various functionalities, including program design, execution, direct communication, and management of loyalty points and redemption options. By leveraging data intelligence and targeted marketing strategies, Loylty Rewardz enables businesses to enhance customer engagement and optimize loyalty program effectiveness.

KPR Mill Limited

Private Equity Round in 2007
KPR Mill Limited is an apparel company that manufactures superior quality knitted apparel, cotton knitted fabrics, and cotton yarn. The company utilizes "state of the art"​ processing facilities to process their products from fiber to fashion. Aside from knitting, the company specializes in printing and embroidery, in garments, and in green energy.

Cordys Holding

Private Equity Round in 2007
Cordys is a global provider of business process management (BPM) software, headquartered in the Netherlands with offices across the Americas, EMEA, and Asia-Pacific. The company specializes in business process innovation, offering the Cordys Business Operations Platform, which allows organizations to design, execute, monitor, and optimize their business operations. Cordys serves Global 2000 companies, helping them enhance productivity, reduce time to market, and respond swiftly to changing market demands. The company's mission is to empower customers by providing process-oriented software that enables them to innovate and adapt their business practices with greater speed and flexibility.

Zylog Systems

Private Equity Round in 2007
Zylog Systems Limited, founded in 1995 and based in Chennai, India, offers a range of onshore, offshore, and nearshore technology solutions and services to enterprises and technology companies globally. The company specializes in SharePoint services, Microsoft Dynamics consulting, and mobile application development, including strategy consulting and performance analysis. Zylog also provides SmartPrise Cloud Manager, a centralized management console for cloud operations, and delivers big data and analytical services encompassing data strategy, infrastructure management, and analytics model implementation. Additionally, Zylog develops tailored products such as ePhoenix, a mobile insurance solution, FieldPower, and Bank.Companion, a digital banking framework designed for banks and credit unions. The company serves various industries, including banking, financial services, insurance, logistics, manufacturing, retail, and telecommunications.

Amimon

Series B in 2006
Amimon, Inc. is a semiconductor company that specializes in developing and manufacturing wireless video modems for various markets, including medical, professional camera, and audio/video installation sectors. Founded in 2004, the company is headquartered in San Jose, California, with additional offices in Guangzhou, China, and Tokyo, Japan, as well as a research and development center in Ra’anana, Israel. Amimon's technology enables wireless transmission of uncompressed high-definition video with zero latency, ensuring quality comparable to traditional wired connections such as HDMI and DVI. This innovative approach allows for universal connectivity, benefiting industries such as medical, industrial, cinema, and live production by enhancing wireless video performance and reliability.

TransPharma Medical

Series C in 2006
TransPharma Medical Ltd. is a specialty pharmaceutical company dedicated to the development and commercialization of innovative drug products through its advanced transdermal drug delivery technology. The company is known for its proprietary ViaDerm device, which enables the painless delivery of peptide and protein therapeutics. Currently, TransPharma is advancing its drug-product development programs, including ViaDerm-hPTH (1-34), a transdermal formulation designed to treat osteoporosis, which is in Phase 2B clinical trials in collaboration with Eli Lilly. Additionally, the company is working on two other peptide formulations currently in Phase 1 trials.

Flash Networks

Series F in 2006
Flash Networks Ltd., founded in 1996 and based in Herzliya, Israel, specializes in mobile Internet optimization and monetization solutions for telecommunications operators. The company provides a range of services, including radio spectral efficiency solutions, data congestion control, and cybersecurity measures, aimed at enhancing user experience and operational efficiency. With its intelligent Internet services gateway, Flash Networks helps operators optimize data traffic and implement targeted marketing strategies, which can lead to substantial cost savings. The company's technology focuses on improving radio resource management, enabling operators to serve more users effectively while reducing operational expenses. Flash Networks has established a global presence with offices in Europe, Asia, and North America, serving top-tier mobile carriers such as O2, Orange, and Verizon Wireless. As of August 2020, it operates as a subsidiary of Volaris Group Inc.

Luminus Devices

Series D in 2006
Luminus Devices is a developer and manufacturer of high-performance solid-state lighting solutions, focusing on its patented PhlatLight LED technology. This innovative technology offers high light output and versatility, enabling a wide range of applications in the global illumination market, including projection displays, entertainment, and general lighting. Luminus Devices aims to redefine the solid-state lighting landscape by creating advanced lighting products that were previously deemed impossible with traditional lighting technologies. Their PhlatLight LEDs are utilized by leading global companies in diverse consumer and specialty markets.

Novariant

Series C in 2005
Novariant, Inc. is a provider of precision steering and positioning solutions based in Fremont, California. Established in 1994, the company specializes in technologies that offer high accuracy and reliability for applications in precision agriculture, construction, automotive, and sensor control industries. Its product offerings include global positioning systems, positioning sensors, intelligent sensor and control systems, steering hardware, and software data services. Notably, Novariant's technology encompasses 7D RTK, a GNSS positioning system that integrates multiple dimensions of information. In 2014, Novariant entered into an agreement to be acquired by AgJunction Inc., enhancing its capabilities in the precision GPS market. The company was previously known as IntegriNautics Corporation until it rebranded in August 2004.

Veraz Networks

Series A in 2003
Veraz Networks, Inc. specializes in voice infrastructure solutions for wireline and wireless service providers. Founded in 2001 and headquartered in San Jose, California, the company offers a range of products that include bandwidth optimization tools, such as the I-Gate 4000 family of media gateways and session bandwidth optimizers, as well as digital circuit multiplication equipment. Its switching products feature the ControlSwitch product family, network-adaptive border controllers, and session border controllers, all designed to facilitate the transport, conversion, and management of voice and data traffic over both time-division multiplexing and IP networks. In addition to its core products, Veraz Networks provides hardware and software maintenance, support, installation, training, and other professional services. The company markets its offerings through a direct sales force and various indirect sales channels, enabling the delivery of converged voice-data services across packet-based networks.

Wavesmith Networks

Series C in 2002
Wavesmith Networks is a company that specializes in developing hardware solutions designed to enhance the network capacity of telecommunications carriers. It focuses on providing multiservice edge switches that facilitate the expansion of existing Layer 2 infrastructures for regional Bell operating companies, incumbent local exchange carriers, and interexchange carriers. By enabling these telecommunications providers to integrate their services onto ATM or MPLS-oriented core networks, Wavesmith Networks supports the evolution of their network capabilities without requiring significant disruptions or overhauls.

The NetCommerce Company

Series A in 2000
The NetCommerce Company is an application service provider focused on the property and casualty insurance industry.
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