True North Mergers & Acquisitions Advises Legacy Building Solutions in the Recapitalization of the Company by Argonaut Private Equity

MINNEAPOLIS – March 11, 2024 – True North Mergers & Acquisitions today announced that it has facilitated the recapitalization of Legacy Building Solutions, headquartered in South Haven, Minnesota, by Argonaut Private Equity based in Tulsa, Oklahoma.

Legacy Building Solutions is a Minnesota-based company that specializes in manufacturing and erecting tension fabric buildings using a patented attachment system for integrating fabric cladding with a steel frame. The company has completed projects in most of the United States, Canada, and several countries around the world.

“We’ve come a long way from our humble beginnings in 2010,” said Ben Fox, the company’s CEO and majority owner. “We’re proud of what we have accomplished and are grateful to our talented team who have allowed us to scale into the $50 million business that we are today.”

“Argonaut is the ideal partner for us,” said Ellie Fox, COO. “They have a proven track record of successfully managing and growing industrial companies like ours. Argonaut’s experience and expertise will bring added value and opportunities to our team, and we are excited for the future.”

“Being a middle-America, family-founded business with a strong product offering, Legacy Building Solutions is a natural fit for Argonaut. We are excited about growth opportunities for Legacy and look forward to a successful partnership,” said Kelby Hagar, Argonaut president and managing director.

“We have developed an elite team of advisors who really understand business founders and owners and what they want to achieve when selling or recapitalizing their businesses,” said Erica Gilson, COO, managing director, True North Mergers & Acquisitions. “Our experience and knowledge have added incredible value to this transaction. That’s why we are recognized as a key player in successful lower middle market mergers and acquisitions like this one.”

Led by Managing Director Brent Engelbrekt, the True North deal team included Kirill Graminschi, Ryan Moen, Roan Morgan, and Nate Gajewski.