The investment in Argyle is the ninth investment from MML Fund IV. MML purchased 18,750 shares of newly created Series A convertible preferred stock, with each share convertible into 100 shares of Argyle’s common stock at US$8.00 per share at MML’s option.

Argyle specialises in the design, engineering, supply and installation of security products and services for correctional and commercial customers, primarily in the United States. Argyle is well positioned to benefit from the continued growth in its end markets as a result of increasing incarceration rates and prisons overcrowding as well as the growing demand for security equipment due to rising crime rates and increased focus on homeland security. MML is pleased to have partnered with the Argyle management team and looks forward to supporting them in their strategy to build the Company.

This transaction illustrates the flexible investment approach of MML where each investment is carefully tailored based on the company’s needs. That flexibility is enhanced by MML’s ability to invest in both public and private companies, through equity, mezzanine or a combination of the two, and taking either minority or control positions.

MML was advised by Porter & Hedges, L.L.P (legal) and BKD, LLP (financial).