Arroyo Announces Final Close of Fund IV and Sale of Fund III Asset
"Fund IV is a continuation of Arroyo's strategy of acquiring equity interests in existing energy infrastructure investment companies, as well as late-stage development projects where the team has developed extensive networks..."
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Arroyo accepted commitments from existing institutional investors from its predecessor funds and expanded its already well-diversified investor base of endowments, family offices, foundations, fund of funds, insurance companies, as well as public and private pensions. Fund IV also received significant support from global investment consultants.
Fund IV is a continuation of Arroyo's strategy of acquiring equity interests in existing energy infrastructure investment companies, as well as late-stage development projects where the team has developed extensive networks over the past three decades sourcing deals on a proprietary basis.
Fund IV has already completed investments in four companies which it believes demonstrate the benefits of investment discipline and thorough investment underwriting.
Seaside LNG: Integrated shore-side liquefaction and LNG bunkering platform in North America.
Mesa Solutions: Distributed power generation solutions business in North America.
Cielo Digital Infrastructure: Portfolio of project sites with access to grid power for data center development in the U.S.
Fermaca Networks: Dark fiber optic network in late-stage development in the U.S. and Mexico.
Threadmark acted as Fund IV's global placement agent.
In addition, affiliates of Arroyo's third flagship fund recently closed on the sale of an approximately 143 MW natural gas-fired combined cycle power plant located near Monterrey, Mexico. Arroyo believes this realization event demonstrates the attractiveness of Arroyo's investments irrespective of the market environment. The sale reflects a total enterprise value of more than $440 million.
Arroyo is a Houston-based independent investment manager focused on power and energy infrastructure investments across North America and Chile. The Arroyo team has built a leading reputation for investing in infrastructure assets with strong operating performance. For further information, visit www.arroyoinvestors.com.
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Clients have included organizations in the Fortune 100, Fortune 500, thousands of small and mid-sized businesses, and numerous educational institutions and government entities. To learn more, visit and enjoy exclusive content across FranklinCovey's social media channels at: LinkedIn, Facebook, Twitter, Instagram, and YouTube. FRANKLIN COVEY CO. 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Condensed Consolidated Balance Sheets (in thousands and unaudited) May 31, August 31, 2025 2024 Assets Current assets: Cash and cash equivalents $ 33,707 $ 48,663 Accounts receivable, less allowance for credit losses of $2,328 and $3,015 49,843 86,002 Inventories 4,062 4,002 Prepaid expenses and other current assets 23,391 21,586 Total current assets 111,003 160,253 Property and equipment, net 9,867 8,736 Intangible assets, net 35,648 37,766 Goodwill 31,220 31,220 Deferred income tax assets 854 870 Other long-term assets 29,692 22,694 $ 218,284 $ 261,539 Liabilities and Shareholders' Equity Current liabilities: Current portion of notes payable $ 816 $ 835 Current portion of financing obligation 221 3,112 Accounts payable 6,234 7,862 Deferred subscription revenue 83,488 101,218 Customer deposits 20,054 16,972 Accrued liabilities 21,494 32,454 Total current liabilities 132,307 162,453 Notes payable, less current portion - 775 Financing obligation, less current portion 1,312 1,312 Other liabilities 15,939 10,732 Deferred income tax liabilities 3,147 3,132 Total liabilities 152,705 178,404 Shareholders' equity: Common stock 1,353 1,353 Additional paid-in capital 230,375 231,813 Retained earnings 121,900 123,204 Accumulated other comprehensive loss (863 ) (768 ) Treasury stock at cost, 14,427 and 14,084 shares (287,186 ) (272,467 ) Total shareholders' equity 65,579 83,135 $ 218,284 $ 261,539 FRANKLIN COVEY CO. Condensed Consolidated Free Cash Flow (in thousands and unaudited) Three Quarters Ended May 31, May 31, 2025 2024 (unaudited) CASH FLOWS FROM OPERATING ACTIVITIES Net income (loss) $ (1,304 ) $ 11,446 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 6,273 6,198 Amortization of capitalized curriculum costs 3,269 2,340 Stock-based compensation 5,730 7,092 Impaired asset - 928 Deferred income taxes 12 (169 ) Amortization of right-of-use operating lease assets 392 596 Changes in working capital 4,667 9,954 Net cash provided by operating activities 19,039 38,385 CASH FLOWS FROM INVESTING ACTIVITIES Purchases of property and equipment (4,050 ) (2,618 ) Curriculum development costs (4,095 ) (5,195 ) Reacquisition of license rights (324 ) - Net cash used for investing activities (8,469 ) (7,813 ) Free Cash Flow $ 10,570 $ 30,572 View source version on Contacts Investor Contact:Franklin CoveyBoyd Media Contact:Franklin CoveyDebra Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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