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AVON, CONNECTICUT – AUGUST 9, 2023 – Ironwood Capital is pleased to announce its portfolio company, Newbury Franklin Industrials (“NFI”), has acquired Bearing Distributors (“Bearing”). Bearing is a Troy, NY-based distributor of bearings, lubricants, power transmission equipment, pulleys, and other industrial supplies and accessories to defense contractors, as well as various MRO and OEM customers.
Based in Buffalo, New York, NFI is a value-added manufacturer and supplier of consumable industrial components for the North American maintenance, repair, and operations (“MRO”) and general industrial markets. NFI is comprised of a diversified group of industrial companies which provides a full service option to distribution and OEM customers.
“NFI continues to execute on its buy-and-build strategy to develop a full service solution for MRO and OEM products. Since Ironwood’s initial investment in April 2022, we’ve supported the company in completing seven acquisitions,” stated Alex Levental, Partner at Ironwood Capital. “The acquisition of Bearing Distributors provides an opportunity for NFI to continue its acquisitive growth, expanding product categories and end market reach, which can be proliferated across the NFI platform.”
About Newbury Franklin Industrials
Newbury Franklin Industrials is a value-added manufacturer and supplier of consumable industrial components for the North American maintenance, repair, and operations (“MRO”) market and other related product and service categories for industrial businesses and institutions. For more information, please visit: newburyfranklin.com.
About Ironwood Capital
Over 20 Years of Middle Market Investing
Ironwood Capital provides non-control junior 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 $40 million. Ironwood’s investments support business owners and financial sponsors in growth financings, recapitalizations, generational transitions and buyouts. For more information, please visit: ironwoodcap.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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