December 18, 2024

Benford Capital Partners (“Benford Capital” or “BCP”), a Chicago-based private equity investment firm, and its portfolio company, Argus Monitoring Solutions Holdings, LLC (“Argus Monitoring Solutions” or “Argus”), are pleased to announce the acquisition of Morgan Construction Services, Inc. (“MCS,” or the “Company”).

Founded in 1995 and headquartered in Kansas City, KS, Morgan Construction Services, Inc. is a provider of seismic monitoring services primarily serving the construction sector. The Company specializes in pre- and post-blasting inspection services, providing critical monitoring and analysis services to its long-tenured customer base. The acquisition strengthens Argus’ position in the Midwest by combining MCS’s strong local presence and established reputation with Argus’ resources, positioning the combined companies to reach more customers and deliver a broader, more comprehensive range of services. All MCS employees will be retained post-closing, with Seller Rob Morgan continuing as a Manager focused on expanding the Company’s service capabilities throughout the Midwest.

“The acquisition of Morgan Construction Services is highly complementary to the Argus platform,” said Argus CEO Jeff Smith. “We’re thrilled to further expand our footprint and look forward to partnering with Rob and the MCS team, providing additional resources to drive growth while continuing to deliver exceptional service to customers.”

ABOUT ARGUS MONITORING SOLUTIONS

Argus Monitoring Solutions was established in October 2021 by Benford Capital Partners I, L.P. as a specialized tech-enabled test and measurement services platform. Argus has completed five acquisitions to date, including MCS, to expand its suite of monitoring and inspection services for the quarry, mining, and infrastructure sectors.

ABOUT BENFORD CAPITAL PARTNERS

Founded in 2004, Benford Capital is a Chicago-based private equity firm focused on buying and building leading lower middle market companies in partnership with founders and management. Since inception, Benford Capital has acquired over 55 companies and currently owns 16 platform companies. BCP’s industry areas of focus include industrial technology, food and consumer products, agricultural products and services, and B2B e-commerce. For more information, please visit www.benfordcapital.com.

Argus continues to pursue strategic acquisitions within seismic, environmental, and broader monitoring and inspection service sectors. Please contact Brendan Green (brendan@benforcapital.com) or Andrew King (andrew@benfordcapital.com) with any add-on acquisition ideas related to Argus Monitoring Solutions (https://argusmonitoringsol.com/).