Argosy Private Equity Invests in Wittenbach Business Systems
On April 19, 2021, Argosy Private Equity invested in Wittenbach Business Systems. This is the second investment in Argosy’s sixth lower middle-market fund.
Founded in 1974 and headquartered in Sparks, Maryland, Wittenbach is a provider of cash management, electronic security, and physical security solutions to local financial institutions, and retail customers. Wittenbach developed an industry-leading reputation for quality and customer service, allowing the Company to capitalize on the emergence of electronic security solutions and continually be at the forefront of the latest cash handling and security technology.
“Wittenbach Business Systems is very excited about our new partnership with Argosy Private Equity. Argosy is committed to upholding the Wittenbach culture of “Our customers are first; Our employees are second; the company is third. If we take care of the first two, company success will follow.” We believe Argosy’s investment in Wittenbach’s growth opportunities will make this partnership a success”, said Roger Wittenbach, Chairman and Founder, Wittenbach Business Systems
“We are thrilled to be partnering with Roger Wittenbach and the rest of Wittenbach’s senior leadership team to continue to fuel the company’s growth. We look forward to working with the entire Wittenbach team leveraging components of our Value Acceleration Methodology (VAM™). Wittenbach has a unique customer first culture that Argosy looks for in its investments”, said Don Charlton, Partner, Argosy Private Equity.
Argosy, with management, has begun execution of its VAM™ strategy, starting with implementing growth initiatives outside of the current operations in the Mid-Atlantic and Southeastern regions of the U.S. The growth strategy includes leveraging the Company’s deep, experienced management team to execute geographic expansion, pursuing accretive acquisitions in this very fragmented market, and increasing wallet share with current customers by capitalizing on Wittenbach’s comprehensive product & service offering.
Argosy continues to source platform investments for its sixth fund to partner and invest with lower middle market niche manufacturing and business to business services companies that have a substantial ability to grow.
M&T Bank Awards Wittenbach Five Year Service Contract for Physical and Electronic Security
M&T Bank has awarded Wittenbach a five year service contract renewal based off Wittenbach’ s proven track record of excellence in supporting The Bank. Wittenbach will remain the sole provider of Electronic and Physical security Maintenance and new equipment for M&T Bank. Wittenbach is partnering with Brown Security Services (BSS) in New York for complete coverage of the M&T Bank footprint. M&T Bank is among the 15th largest US headquartered commercial banks and has over 750 branches throughout The Northeast and Mid-Atlantic.
July 11, 2018
Citadel FCU redefines member experience with expertise from Wittenbach Business Systems.
Citadel Federal Credit Union ($3.1B, Exton, PA) brought in expert advice when it sought ways to improve the member experience. It asked branch staff to name one thing they would change about the branch to make a better member experience.
December 18, 2017
Wittenbach joins forces with Bank Equipment Consulting (BEC)
Wittenbach has expanded into the Mid-West! We are very excited to announce Wittenbach has joined forces with Bank Equipment Consulting, Inc. (BEC) and their security monitoring company Bank Guard Security Systems, Inc. effective December 18, 2017. This will give Wittenbach a market reach that includes Pittsburgh, Northwest Pennsylvania and Eastern Ohio.
June 1, 2017
United Bank Has Awarded Wittenbach a Three Year Service Contract.
United Bank has awarded Wittenbach a three year contract for their office locations, 160 branches and drive-thru facilities, and multiple off-site ATMs. Wittenbach will service both conventional branch and electronic security equipment for United Bank. United Bank has been open since 1839 and employs over 2,400 people.
February 9, 2017
Frederick County Bank Has Awarded Wittenbach a Two Year Service Contract.
Frederick County Bank has awarded Wittenbach a two year contract to maintain their cash handling, physical and electronic security equipment. Frederick County Bank is an independently owned community bank founded in 2001. Today, FCB has locations throughout the Frederick area and has become an integral part of the community, supporting charities, non-profit organizations and programs through donations, sponsorship and FCB employee volunteerism.
September 21, 2016
City National Bank Expands and Renews Service Agreement
City National Bank has awarded Wittenbach a three-year contract renewal for all 88 of their branch and office locations. Wittenbach services both conventional branch and electronic security equipment for City National Bank. City National Bank proudly serves customers through 88 locally managed bank locations in West Virginia, Kentucky, Virginia and Ohio.
September 15, 2016
GRAND OPENING! Branch Transformation Solution Center
Wittenbach celebrated the Grand Opening of our new Branch Transformation Solution Center on Thursday, September 15. Over a hundred visitors from dozens of regional financial institutions attended to learn about and get hands-on experience with the latest trends in Branch Transformation technology including:
- Assisted Self-Service (lobby)
- Assisted Self Service (drive up)
- Intelligent Deposit ATMs
- Various Teller Cash Recycler (TCR) Models
- Latest Fraud Combating Surveillance Solutions
- Alarm and Access Control
December 30, 2015
M&T Bank Awards Wittenbach and BSS a Three Year Service Contract
M&T Bank has awarded Wittenbach a three-year contract for service of their conventional branch equipment. Wittenbach is partnering with Brown Security Services (BSS) in New York for complete coverage of the M&T Bank footprint. M&T is one of the 20 largest US headquartered commercial bank holding companies, and has over 700 branches throughout New York, Maryland, Pennsylvania, Washington, D.C., Virginia, West Virginia, New Jersey, and Delaware.
August 13, 2015
AllSouth Federal Credit Union Renews Service Agreements
AllSouth Federal Credit Union has awarded Wittenbach a three-year contract renewal for service of their teller cash automation and conventional branch equipment. AllSouth Federal Credit Union has 23 branch locations in South Carolina and serves more than 100,000 members worldwide.
June 1, 2015
Wittenbach Announced as Largest Glory Dealer for 2014/2015 at Glory President’s Club
Wittenbach was awarded the #1 Glory Dealer award at this year’s Glory Global Solutions Presidents Club. Wittenbach was the largest Talaris dealer in the US for over 15 years and was the largest in the world for 3 years prior to the Glory acquisition.