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New York & Minnesota Investment Firms Named SBIC of the Year

Release Date: 
Thursday, April 21, 2016
Release Number: 
16-30
Contact: 
Tiffani S. Clements, 202-401-0035

WASHINGTONArgentum Capital Partners of New York, New York and GMB Mezzanine Capital of Minneapolis, Minnesota were the two winning firms of the 2016 SBIC of the Year award by the U.S. Small Business Administration (SBA).  These winners, along with other national winners and finalists for the National Small Business Person of the Year, have been invited to a recognition ceremony as part of National Small Business Week in Washington, D.C. on May 1-2.  SBA Administrator Maria Contreras-Sweet will be presenting all awards.

The SBA’s Office of Investment and Innovation administers the SBIC Program, a multi-billion dollar, zero-subsidy government-sponsored investment fund created in 1958 to bridge the gap between entrepreneurs’ need for capital and traditional sources of financing.  SBA invests long-term capital in privately owned and managed investment firms licensed as Small Business Investment Companies (SBIC).  For every $1 an SBIC raises from a private investor, the SBA can provide up to $3 of debt capital, subject to a cap of $150 million per fund.  Once capitalized, SBICs make debt and equity investments in some of America’s most promising small businesses, helping them grow.  At the close of FY 2015, 303 SBIC funds were participating in the program with $25 billion assets under management.  For FY 2015, 1,210 small businesses were financed by SBICs; one-fourth of these companies are woman, minority or veteran led, and one-fourth were companies less than two years old at the time of financing.  

Some of today’s iconic brands were financed by SBICs – companies like Apple, Amgen, Intel, Federal Express, Tesla, AOL, Adaptec, and Hewlett Packard.  To learn more about the SBIC program, please visit www.sba.gov/sbic.                                                                                                                                   

Information for the SBIC winners is listed below:

Small Business Investment Company (SBIC) Awardees

Argentum Capital Partners

Walter H. Barandiaran, Managing Partner

New York, New York

Argentum Capital Partners supports small, rapidly growing service-based businesses by providing them with growth equity capital and valuable strategic guidance through active board level participation.  Since the licensing of its first SBIC fund in 1990, Argentum has invested almost $160 million in 74 small businesses and smaller enterprises across the U.S.  Argentum’s second fund, Argentum Capital Partners II, LP, invested more than $110 million in 40 small businesses.  Subsequent to the fund’s initial investment, revenues for these 40 companies grew by eight times and the employee base increased five-fold, creating or sustaining nearly 16,000 jobs.  The Principals of Argentum Capital Partners are Walter H. Barandiaran, Daniel Raynor and Steve Berman.

GMB Mezzanine Capital

Carleton J. Olmanson, Managing Principal

Minneapolis, Minnesota

GMB Mezzanine Capital provides small businesses with capital and support for intelligent and successful growth.  GMB manages three SBIC funds, the first licensed in 2005 and the most recent launched in 2015.  These funds have raised over $275 million private capital and have been awarded $330 million in SBA leverage and commitments; they have invested nearly $590 million subordinated debt and equity in 75 U.S. small businesses.  During GMB’s hold period, these companies grew employment by 19 percent, creating or sustaining more than 16,600 jobs.  While GMB actively supports investments in the Midwest, GMB funds have invested in small businesses across 24 U.S. states.   The principals of GMB Mezzanine Capital are Carlton L. Olmanson, Michael D. McHugh and Daniel J. Hemiadan.

National Small Business Week is an annual event organized by SBA to recognize the achievements of the top small businesses in the nation. Since 1963, the president of the United States has issued a proclamation calling for the celebration of National Small Business Week. This year National Small Business Week will be recognized from May 1-7 with national events planned in Washington, D.C., New York, Denver, Phoenix, Oakland and San Jose, Calif.  Events throughout the week will be live-streamed on SBA’s website at www.sba.gov.  Make sure to check in during the event for live social media engagement, using the hashtag #DreamSmallBiz. For more information on the national events please visit: www.sba.gov/smallbusinessweek.

About the Small Business Administration

The U.S. Small Business Administration (SBA) was created in 1953 and since January 13, 2012 has served as a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation.  The SBA helps Americans start, build and grow businesses.  Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers its services to people throughout the United States, Puerto Rico, the U.S. Virgin Islands and Guam. www.sba.gov

 

Cosponsorship Authorization #SBW2016 SBA’s participation in this cosponsored activity is not an endorsement of the views, opinions, products or services of any Cosponsor or other person or entity. All SBA/SCORE programs and services are extended to the public on a nondiscriminatory basis. Reasonable arrangements for persons with disabilities will be made if requested at least two weeks in advance.  Contact: smallbusinessweek@sba.gov. SCORE is partially funded by SBA Cooperative Agreement No. SBAHQ-14-S-0001.

National Small Business Week 2016 sponsors include: Chase for Business, SCORE, ADP, Colonial Life, Intuit, Sam’ s Club, Square, YP, ESET, Facebook, Instagram, Lockheed Martin, Microsoft, National Association of Government Guaranteed Lenders (NAGGL) and VEDC