Argo Holdings

Our goal is to build noteworthy companies of lasting value to customers, employees, shareholders, and communities alike. We believe that we can create long-term value through driving operational effectiveness, business model innovation, and effective execution. Accordingly, we look for companies that have the potential to grow both organically and through a combination of acquisitions; and that have the potential to improve operationally. WHAT WE LOOK FOR We seek to partner with privately-held, profitable companies to provide capital, operating experience and leadership, enabling them to grow and transform. Although Argo is prepared to consider a broad range of opportunities, we are looking to invest in firms that generally meet the following criteria: —Industries ▪ Business Services: Service providers that leverage technology, information assets, or a unique business process or strategy to deliver value to their customers. ▪ Healthcare Services: Healthcare services companies with an established customer base and a scalable business. We avoid medical devices and biotechnology. ▪ Consumer: Manufacturers of consumer-oriented products and consumer services companies that compete in markets that are well established and not typically subject to the risks associated with economic cycles and technological obsolescence. ▪ Niche Manufacturing: Manufacturers that develop or reposition products and services in a way that adds value to a distinct customer base. —Financial Criteria ▪ Revenues: Revenues ranging from $5 to $30 million. ▪ Profitability: EBITDA of at least $1.0 million. EBITDA Margins greater than 10%. ▪ Earnings History: 3+ year history of profitability. ▪ Growth: The business should have excess capacity for internal growth, and should be scalable for follow-on acquisitions.