Heavy Equipment Colleges of America announces acquisition by Argosy Private Equity

The organization enters a new era as the acquisition sets the stage for innovation, expansion, and the evolution of the brand.

LAS VEGAS, Dec. 9, 2024 /PRNewswire/ -- Heavy Equipment Colleges of America (HECOA), a nationally recognized institution specializing in heavy equipment and crane operator training, is proud to announce that it has been acquired by Argosy Private Equity, a leading lower middle-market investment firm. This partnership marks a significant milestone for both companies, aligning their strengths to meet the evolving demands of the essential infrastructure and construction sectors in the United States.

Founded in 2006, Heavy Equipment Colleges of America has been instrumental in providing hands-on training and certification programs to thousands of students, ensuring a steady pipeline of skilled heavy equipment and crane operators. The acquisition marks a strategic move to elevate HECOA's educational impact and maintain its industry-leading status by supporting the institution's growth and expansion of its certification programs across the country and the various essential commercial trades.

"We're thrilled to be entering this new chapter with Argosy," said Cory Albano, Chief Executive Officer at HECOA. "Their expertise and resources will allow us to expand our operations, while simultaneously continuing to focus on delivering top-tier training and career development for our students. This acquisition strengthens our ability to innovate and grow, ensuring that we remain at the forefront of the heavy equipment and crane training industry."

This move comes in response to the growing labor gap in the essential commercial trades. According to the U.S. Bureau of Labor Statistics, demand for heavy equipment operators is projected to grow significantly over the next decade, driven by increased federal investment in infrastructure projects. Despite the high demand, there is a persistent shortage of trained operators, which has the potential to slow down the execution of key projects across the country.

HECOA has positioned itself at the forefront of addressing this challenge, providing an avenue for individuals to gain specialized skills and certifications. Argosy's investment will enable HECOA to expand its operations, introduce new programs, and scale its training capabilities to meet the increasing demand.

"With multiple locations nationwide and a curriculum tailored to students' needs, HECOA provides valuable experience, affordable education options, and qualified instruction to their students," said Jack Nugent, Partner at Argosy Private Equity. "The management team at HECOA has developed strong relationships with the Department of Veteran Affairs and the Accrediting Commission of Career Schools and Colleges (ACCSC), a key differentiator for them. We believe this, combined with their track record of diversifying into new training sectors, investment in digital integration, and a seasoned executive team, positions HECOA well for future growth,"

A Vision for Growth and Impact
Heavy equipment operators play a critical role in building and maintaining essential infrastructure, from roads and bridges to utilities and commercial structures. As the U.S. embarks on a renewed focus on infrastructure development, HECOA's role in preparing skilled workers becomes ever more crucial.

Argosy's acquisition will also allow HECOA to deepen its relationships with industry partners, fostering greater collaboration between educational institutions, employers, and government agencies to address the workforce needs of today and tomorrow.

Commitment to Workforce Development
HECOA's commitment to workforce development is rooted in its belief that education and skill development are foundational to personal and economic growth. As federal initiatives continue to drive infrastructure projects nationwide, the importance of accessible, high-quality training programs cannot be overstated.

"We are proud of the work we've done to date, and with Argosy's backing, we can continue to innovate and expand our offerings, ensuring that we remain a leader in heavy equipment and crane operator training," said Albano. "Our vision of empowering individuals to succeed in high-demand careers will undoubtedly have a lasting impact on the communities we serve and the industries that depend on us."

Looking Ahead: Innovation and Expansion
Heavy Equipment Colleges of America plans to make strategic moves over the next couple of months and accelerate its growth by expending its training programs into other areas.

Albano added, "In the coming months, we'll be making several important announcements, including the launch of new programs and initiatives designed to better serve our students and industry partners. There are big things ahead, and we can't wait to share them with our community."

Heavy Equipment Colleges of America is the only program of its kind to receive an accreditation from the Accrediting Commission of Career Schools and Colleges, a private nonprofit organization that provides national accreditation to private post-secondary educational institutions. It is recognized by the United States Department of Education as an independent accrediting agency.

About Heavy Equipment Colleges of America
Heavy Equipment Colleges of America is a nationally accredited school that has been training heavy equipment operators for nearly two decades. With multiple campuses across the U.S., HECOA offers industry-leading education programs designed to equip students with the skills and certifications needed to operate a wide range of heavy machinery, including bulldozers, excavators, and cranes. HECOA graduates are employed by leading construction companies, utilities, and government agencies, contributing to the development and maintenance of vital infrastructure. Beyond teaching technical skills, the programs emphasize the importance of certification and foster both hard and soft skills essential for long-term career success.

For further information, please visit: heavyequipmentcollege.edu

About Argosy Private Equity
Argosy Private Equity, founded in 1990, is a lower middle market private equity firm dedicated to growing and professionalizing U.S. manufacturing and business services companies, often family or founder owned. For over 30 years, Argosy Private Equity has partnered with more than 135 investments, focusing on companies with $3 to $10 million of EBITDA and substantial potential to grow. Argosy manages a diverse portfolio across six funds and over $1.1 billion in assets under management as of June 30, 2024.

For further information, please visit: www.argosype.com

SOURCE Heavy Equipment Colleges of America