Wayne-based Argosy Private Equity is putting money on the table to see if it can streamline the operations and growth of an outsource library services provider.
Earlier this year, Argosy acquired a controlling ownership interest in Maryland-based Library Systems & Services. While it will maintain LSSI’s current leaders, “Argosy believes the company presents an excellent opportunity to implement Argosy’s VAM (Value Accelerator Methodology), which focuses on strategic planning and operational improvements,” according to a company announcement.
LSSI currents offers 84 libraries within 20 library systems across six states the tools to “improve their library operations and customer service, accomplish more with their library budget, identify and secure additional grants, leverage library automation and technology, and create library programs specific to the needs of the local community.”
Argosy will aim to enlarge the firm’s 5% total market penetration.
Read more about the deal on Argosy’s website here.