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AVON, CONNECTICUT – June 26, 2023 – Ironwood Capital is pleased to announce that its portfolio company, Directional Services, Inc. (“DSI”), has acquired Fortress Fencing LLC (“Fortress”).
DSI, headquartered in Hope Mills, North Carolina, is a national leading utility scale solar and renewable energy contractor. Fortress, headquartered in Carrboro, North Carolina, is a full-service fencing company supporting utility scale solar projects and commercial customers, offering a broad range of fencing solutions that provide unparalleled safety and security for power, commercial, and industrial facilities. Jason Truesdale founded Fortress in 2001 and has grown the company from a small, two-person operation to a reputable brand in the fencing market.
Together, DSI and Fortress are a turn-key solutions provider of utility-scale solar and fencing services, enabling the two companies to jointly bid on projects to capture additional share within the project value chain. Fortress will continue to operate as a wholly owned subsidiary of DSI, and DSI will diversify its service offerings to include the fencing portion of utility solar projects.
“DSI continues its focus on expanding its specialized renewable energy services offerings at an exciting time in the utility-scale solar industry,” noted Paul Witinski, Partner at Ironwood Capital. “The acquisition enables Fortress to leverage DSI’s capabilities to better serve their collective customers.”
Ironwood Capital Partner Alex Levental added, “Fortress’ operating model is very similar to DSI’s but is centered around a different portion of the solar construction process. DSI has seen strong growth over the past year and is well positioned to expand its service offerings and geographic reach through the acquisition of Fortress Fencing.”
About Ironwood Capital
Over 20 Years of Middle Market Investing
Ironwood Capital provides non-control growth capital to middle market companies across the U.S. The Firm has invested more than $1 billion in over 100 companies since 2001 and currently invests subordinated debt and minority equity in amounts ranging from $10 million to $30 million. Ironwood’s investments support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions, and buyouts. For more information, visit: ironwoodcap.com.
About Directional Services, Inc.
DSI provides specialized utility-scale solar, electrical and renewable energy solutions to many of the nation’s leading energy developers, private industry, and public utilities & energy companies. The company provides construction, operations, and maintenance services to bring electric power and renewable energy sources to hundreds of millions in North America. In business since 2005, the company is headquartered in Hope Mills, North Carolina with operations that extend throughout the United States. For more information, please visit: directionalservices.net.
About Fortress Fencing LLC
Fortress Fencing LLC was founded in 2001 by Jason Truesdale, CEO and President. Over the past 21 years, Fortress Fencing LLC has built a national reputation for being the top producer in security fence construction in the United States. The company is based in Carrboro, North Carolina and has built utility-scale solar fencing in thirty-two states. For more information, please visit: fortressfencingus.com.
Media Contacts
Carolyn C. Galiette
Partner, President, CIO
(860) 409-2105
galiette@ironwoodcap.com
Kimberly A. Craig
VP, Operations & Compliance
(860) 409-2125
craig@ironwoodcap.com
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