Ironwood Capital

PE/Buy-Out · Avon (United States)

PE/Buy-Out

Growth Capital

PE/Buy-out

Climate

About

Ironwood Capital is a private equity and venture capital firm specializing in direct investments in acquisition, leveraged buyouts, management led buyouts, non-control growth capital, lower middle market, mezzanine, growth financings, refinancing, generational transitions, senior debt, generational transitions, and recapitalizations investments. It seeks to invest in consumer products, healthcare products and services, healthcare supplies, wellness education, education services, data infrastructure, information technology, financial services, green technology, healthcare equipment, consumer staples, business services, value-added manufacturing, energy services, clean technology, aerospace manufacturing, and specialty distribution industries in Maine through Florida and west to the Missouri River. The firm typically invests in Florida, South Carolina, Mississippi, Georgia, Alabama, and Tennessee. It invests in companies with a revenue of minimum $5 million. Within mezzanine finance, it invests in lower middle market companies. It is sector agnostic but seeks to invest in companies in precision manufacturing, environmental services, transportation and logistics, business-to-business services sectors based throughout the United States, including Connecticut. It pursues a generalist strategy, not limited by industry or geography but prefers to invest in companies based in east of the Mississippi River. The firm seeks to invest in companies with annual revenue between $20 million and $250 million, EBITDA between $4 million to $25 million with margins of 10 percent or more. It prefers to make investments in the form of preferred equity, subordinated debt, subordinated debt with warrants, and preferred stock between $2 million and $25 million in companies that have a significant management’s equity stake but can invest in excess of $20 million along with its investment partners. Within providing capital to Connecticut companies, the firm specializes in providing growth and transition capital, early stage, late/mature stage, expansion capital, developmental stage, early stage, middle market, common and preferred stock, mezzanine finance, senior debt. The firm also offers equity co-investment on a non-controlling basis and venture debt and growth equity to later stage venture capital-backed companies. It is industry agnostic. It seeks to invest in companies seeking to expand existing operations in, or relocate to, Connecticut (either 80% of employees or 80% of payroll paid) having less than 250 employees and net income less than $10 million. For established companies, it offers debt and equity investment ranging between $10 million to $30 million and early stage investments range from $0.04 million to $1 million with a typical investment size of $0.15 million. It seeks to invest from $10 million to $50 million in companies. For early stage companies, the firm also provides co-investments with other investors to support rapid growth. The firm seeks to make non-control investments, strategic acquisitions, and infrastructure. It seeks to be a sounding board for middle market companies that are considering a financing. The firm is not a control investor and does not seek to take control of a company by making a majority investment, preferring instead to have management and existing shareholders retain control, establish strategic direction and manage the company on a day-to-day basis. It can also complete larger transactions with co-investment partners. There is particular interest in businesses located in low- and moderate-income areas, enterprise zones, women and minority owned. The firm seeks to exit the investment in a period of three to five years. It seeks to take a 10 percent stake in the companies. It frequently takes board seats. Ironwood Capital was founded in 1990 and is based in Avon, Connecticut with additional offices in Boston, Massachusetts and Birmingham, Alabama.

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