Argentum’s Portfolio Company EmpowerMX Sold to IFS

New York, NY, July 16, 2024 – Argentum is pleased to announce the sale of its portfolio company, EmpowerMX, to IFS, the leading technology innovator in cloud and Industrial AI software. EmpowerMX is an AI-powered aviation maintenance software provider specializing in Airframe Maintenance Repair and Overhaul (MRO) solutions, which are trusted by the largest aviation organizations in the world, including Embraer, MRO Holdings, Delta and American Airlines.

Backed by leading private equity firms including EQT Partners, Hg, and TA Associates, IFS serves more than 6,500 customers across a wide range of industrial and manufacturing verticals throughout the world, with its team of over 6,000 employees in more than 80 countries.

“Argentum delivered on its commitment to serve as a trusted and supportive partner, and employ a hands-on approach to value creation and business development,” said Dinakara Nagalla, Founder and CEO of EmpowerMX.  “By proactively sourcing sales prospects, partnerships, add-on acquisition candidates, and other strategic opportunities, including originating our relationship with IFS, Argentum helped EmpowerMX accelerate its momentum and growth.”

“Drawing from our experience backing other founder-led and bootstrapped services and software companies that serve the aviation and defense industry, we’ve seen many of the skilled labor shortages, supply chain bottlenecks, and inefficiencies that EmpowerMX’s solutions help solve for leading airlines, fleets, MROs, and OEMs,” said Chris Leong, Partner at Argentum.  “We wish Dinakara and the EmpowerMX team continued success as part of IFS.”

More information can be found at https://www.ifs.com/news/corporate/ifs-acquires-empowermx

About Argentum

Argentum is a New York-based growth equity firm that helps scale bootstrapped B2B software, technology-enabled and business services companies.  The firm invests in B2B software firms and tech-enabled and business services companies that are generating $5 million to $30 million in revenues, providing capital to accelerate growth, fund acquisitions / buy-and-build strategies, and / or generate shareholder liquidity.  Over its 35-year history, Argentum has invested in over 100 companies, supported more than 200 add-on acquisitions, been named to Inc’s list of Top Founder Friendly Investors for multiple years, and received the U.S. SBA’s SBIC of the Year award.  Argentum fills the growing gap between early-stage venture capital investors and later stage growth equity firms by targeting capital-efficient companies seeking $5 million to $15 million of equity capital.