Charlotte, NC (February 2025) – Bundy Group, an industry-focused investment bank, is pleased to announce that it has successfully advised Joliet Electric Motors, LLC (“Joliet”), a full service electrical apparatus solutions firm and portfolio company of Argosy Private Equity, in a sale to Hitachi, Ltd., a leading international firm specializing in digital transformation, green energy & mobility, and digital technology solutions. The transaction, which closed in January 2025, underscores Bundy Group’s continued advisory work and closed transaction experience in the energy & power solutions, industrial services, and business services sectors.
Founded in 1934 and headquartered in Joliet, IL, Joliet has become a leading electrical apparatus solutions firm within the oil & gas sector, as well as the broader industrials market, delivering innovative rotating equipment repair, rebuild, field service, and sales solutions. The firm has been a trailblazer in the electro-mechanical industry, providing cutting-edge electrification solutions to a global roster of blue-chip oil & gas and industrial clients.
“Bundy Group has maintained a professional collaboration with Joliet and Argosy for over 12 years, and we are honored to have been selected as the exclusive advisor for this transaction, a testament to our longstanding relationship and deep expertise in Joliet’s industries,” said Clint Bundy, Managing Director at Bundy Group. “Our team valued the opportunity to partner with Joliet’s management and the Argosy investment team throughout this process. We look forward to seeing Joliet continue to thrive and expand as part of a strong international organization.'"
“Joliet is a dominant electrical apparatus solutions provider within the oil & gas industry, and the Company’s management team is second to none,” said Jordan Frickle, Vice President at Bundy Group. “Our team appreciated the opportunity to represent Joliet, and we are excited to see the Joliet leadership team grow in partnership with Hitachi.”
“While the Argosy and Joliet teams were aware of other investment banks with experience in the electrical apparatus and industrial sectors, choosing Bundy Group was an easy decision that required little internal discussion or debate,” said Tim Tibbott, CEO of Joliet. “Bundy Group delivered professionalism and attentiveness throughout the entire process, and I couldn’t have been more satisfied with the outstanding work and results that our advisor delivered. We absolutely made the right decision by hiring Bundy Group.”
The Bundy Group client engagement team was led by Jordan Frickle, Stewart Carlin, and Clint Bundy.
This transaction highlights Bundy Group’s continued success and significant experience in the energy & power, industrial services, and business services sectors. For more information about Bundy Group’s industry expertise and recent transactions, visit bundygroup.com.
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About Bundy Group
Established in 1989, Bundy Group is an industry-focused investment bank that specializes in representing business owners and management teams in business sales, acquisitions, and capital raises. The team of highly experienced investment bankers leverages extensive industry knowledge and skill to provide hands-on guidance to clients through every phase of the business transaction. Bundy Group has been a trusted partner in more than 250 closed deals over the past 36 years, providing high quality options, actionable insights, and delivery of optimal strategic fit at a premium value for our clients.
Bundy Group Securities, LLC, is a registered broker-dealer and member of FINRA and SIPC. More information on the background of Bundy Group Securities, LLC is available at FINRA's BrokerCheck.
