Argonaut Private Equity, a Tulsa, Oklahoma-based private equity fund, has acquired Miller Contracting.
Miller Contracting provides specialty mining, industrial and civil contracting services across the United States. The deal also coincides with the closing of Argonaut Private Equity Fund V, targeting $400 million in commitments. The deal represents the first investment from the firm’s Fund V. The fund will focus on investments in founder-led manufacturing and industrial businesses.
“This is an exciting time for Argonaut as we combine our resources with the tremendous culture of character and integrity that has been passed from one generation to the next at Miller,” stated Argonaut CEO Steve Mitchell. “It’s a fitting initial investment in Fund V that aligns perfectly with Argonaut’s investment thesis and represents the tremendous momentum we’re experiencing already in 2022.”
“Our family and team believe the best value we can bring to our customers comes from outstanding quality delivered by honest and hardworking professionals,” said CEO Matthew Miller. “In Argonaut, we found partners as hardworking and dedicated to our culture as we are and that will add to our ability to grow the company and serve our customers as we always have.”