An iron force on the East Coast
Over the years, Ironwood Capital Ltd. has honed its specialty in the realm of middle market deals. Established in 1991, Ironwood Capital exists as the investment unit of parent Ironwood Capital Ltd. Through Ironwood Equity Fund and Ironwood Mezzanine Fund, Ironwood Capital works on buyouts and recapitalizations in addition to acquisitions.
Ironwood’s investment capital comes from a variety of sources, including insurance companies, banks and parent Ironwood Capital Ltd. The firm boasts serving as principal in more than 40 transactions since 2002, and prior to that, the firm worked on more than 100 deals that raised more than $5 billion in capital. In 2008, Ironwood had about $300 million of capital under management. The firm’s headquarters is located in Avon, Conn., and it has an additional office in Boston.
Up to par?
For Ironwood to want to invest in a company, the business first has to meet a few criteria. Geographically, Ironwood seeks out firms that are located in the east (preferably “east of the Mississippi River,” according to Ironwood). Secondly, the firm should have total revenue anywhere from $10 million to $200 million. Finally, Ironwood looks for a company that appreciates diversity, preferring to invest in businesses owned by women and/or minorities and located in low- and moderate-income areas. Its ultimate goal is to achieve growth for a company over the course of three to five years, at which point Ironwood will usually sell off its investment.
A few wildcards
Keeping with its diversity theme, the firm practices what it preaches, currently holding an assortment of businesses in its portfolio. The companies in Ironwood’s collection truly run the gamut, ranging from environmental services to consumer products sectors. The specific businesses Ironwood holds are pretty colorful as well, ranging from fountain drink manufacturer Al’s Holding to Micro Precision, a manufacturer of locomotive air horns.
55 Nod Rd
Avon, CT 06001
Phone: (860) 409-2100
Employer Type: Private
President: Marc A. Reich
2008 Employees (All Locations): 60