“Mr. Splash is led by a seasoned management team with deep industry experience and strong local connections, coupled with a proven expansion playbook,” said Jack Nugent, partner at Argosy Private Equity in a statement. “The company’s unique geographical presence, competitive moat, and rapid digitalization driving membership sales further enhance its growth potential. We believe this scrappy, metrics-driven team is committed to disciplined and sustainable scaling.”

Founded in 1990, Argosy Private Equity targets the lower mid-market. The firm invests in US manufacturing and business services companies. Argosy manages over $1.1 billion in assets under management as of September 30, 2024.