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AVON, CONNECTICUT – MAY 16, 2023 – Ironwood Capital is pleased to announce its subordinated debt investment to support Newbury Franklin Industrials’ acquisition of EMI Supply, Inc. (“EMI”). EMI is a Monroe, North Carolina based distributor of construction and industrial consumable products, selling primarily to contractors through their eCommerce platform.
Based in Buffalo, New York, Newbury Franklin Industrials (“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 provide a one-stop shopping option to distribution and OEM customers.
“The acquisition of EMI is consistent with NFI’s strategy of developing an eCommerce platform to serve as a one-stop solution for industrial products and components across plastic, rubber, foam, and metal consumables,” stated Alex Levental, Partner at Ironwood Capital. “EMI’s product mix is complementary to several existing product lines NFI sells, including fasteners, which are a key vertical for NFI today and the target of continued M&A efforts going forward. In addition to cross-selling products, NFI will utilize best practices from EMI’s established web presence and NFI’s recently launched direct-to-consumer division, Fix Supply, to augment growth for both web platforms.”
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 Newbury Franklin Industrials
Newbury Franklin Industrials is a leading 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.
Media Contacts
Carolyn C. Galiette
Partner, President and
Chief Investment Officer
(860) 409-2105
[email protected]
Kimberly A. Craig
Vice President
Investment Operations
(860) 409-2125
[email protected]
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