Wittenbach, an Argosy Portfolio Company, Acquires The Gilbertson Group

Argosy Private Equity

WAYNE, PA — Argosy Private Equity, a lower middle market private equity firm, announced the recent acquisition of The Gilbertson Group by Argosy’s portfolio company, Wittenbach.

The Gilbertson Group (TGG), a second-generation family-owned, UL-Listed company, has been providing security solutions to financial, education, healthcare, commercial, pharmaceutical, government, retail, and property management customers for over 30 years. TGG specializes in physical and electronic security systems integration, retail delivery solutions and security consulting, working with the financial and commercial sectors of the Mid-Atlantic region, while also supporting customers throughout the U.S. and Canada.

For over four decades, Wittenbach has delivered cash automation, physical security and electronic security products to regional community and nationally known banks, credit unions and financial institutions. The company’s branch transformation solutions help improve operational efficiencies, increase productivity, reduce costs, and ensure regulatory compliance. Based in Maryland, Wittenbach services customers throughout the Midwest and East Coast.

The acquisition of The Gilbertson Group will further enhance the growth of Wittenbach by providing increased density in an important region for Wittenbach and its customers. The combined company will be enabled to better serve their combined customer base, execute cross-selling opportunities in the financial institution sector while expanding into government and commercial sectors across their footprint.

Integration is already underway. The Wittenbach and TGG management teams, along with Argosy, are actively working on executing Argosy’s Value Acceleration Methodology (VAM™) acquisition toolkit to integrate the operations, realize synergies between the companies, and continue to grow the combined company.

“We are thrilled for TGG to join our Wittenbach team. We look forward to leveraging the combined strength of both companies to provide even better services and support to our many customers across the PA, DE, and MD markets,” said Don Charlton, Partner, Argosy Private Equity and Chairman of Wittenbach.

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