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AVON, CONNECTICUT – APRIL 18, 2023 – Ironwood Capital is pleased to announce its subordinated debt investment to support Newbury Franklin Industrials’ acquisition of Metaltech Service Center, Inc. (“Metaltech”). Metaltech is a Houston, Texas based metal supply company providing metal raw materials (sheets, plates, bars, etc.) as well as semi-finished metal products to an array of maintenance, repair, and operations (“MRO”) and industrial customers, primarily across the Gulf Coast region.
Based in Buffalo, New York, Newbury Franklin Industrials (“NFI”) is a value-added manufacturer and supplier of consumable industrial components for the North American 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.
“NFI has been pursuing an acquisition strategy into the metals market, seeking to replicate its current successes in the plastic, rubber, and foam industrials verticals. The acquisition of Metaltech enables NFI to expand its product offerings to include metals, which current customers have requested due to the lack of a consistent supplier,” stated Alex Levental, Partner at Ironwood Capital. “The acquisition also presents a strategic opportunity to utilize Metaltech’s headquarters in developing a southern U.S. consolidation hub for future acquisition targets.”
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
galiette@ironwoodcap.com
Kimberly A. Craig
Vice President
Investment Operations
(860) 409-2125
craig@ironwoodcap.com
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