GERMANTOWN, MD) – On January 26, 2015, Argosy Investment Partners IV and Argosy Investment Partners V, through Argosy LSSI Holdings, LLC, acquired majority control of LSSI, an outsourced public services provider serving public library systems throughout the United States. LSSI provides services for new and existing libraries, as well as contract library services for Federal agencies. LSSI was formed in 1981 and currently manages libraries in more than 80 communities across the United States.
Argosy has been following LSSI's progress for a number of years and regards LSSI as a thought leader in the library service sector. They are enthusiastic about the opportunity to assist LSSI in its mission: partnering with communities to help libraries work better.
LSSI President and CEO Ron Dubberly remarked, "Working with Argosy is a natural progression for us, providing the capital and other resources we need to take LSSI to the next level." The management team, led by Dubberly, will remain intact at LSSI.
Argosy Operating Partner Don Charlton commented, "We are thrilled to partner with the LSSI team and support the continued growth of LSSI as the premiere provider of outsourced public and government library services nationwide."
Argosy Private Equity is part of the Argosy Capital fund family and manages $500 million in private equity capital. Argosy seeks out high performance organizations with effective management teams and staffs and helps them develop and grow.
Founded in 1981, LSSI is the world's premier provider of library operation services and solutions to public and government libraries. LSSI helps communities and institutions 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. More information about LSSI is available at www.lssi.com.