Ironwood Capital Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Ironwood Capital has acquired 9 companies. It has also invested in 6 others.

Ironwood Capital’s most common sectors for investment areenvironmental (15%) and manufacturing (14%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (34%) and growth capital (23%). In total, Ironwood Capital has invested in 26 US states. Its largest (disclosed) acquisition occurred in 2005 when it acquired DelStar Technologies for $114M.

In the last 3 years, Ironwood Capital has exited 19 companies. The Firm’s most common exit type is trade sale (60%). Ironwood Capital’s largest (disclosed) exit occurred in 2013 when it sold DelStar Technologies for $232M.

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M&A Summary

M&A Total Activity117
- M&A Buy Activity75
- M&A Sell Activity42
Total Sectors Invested 31
Total Countries Invested 1
M&A Buy/Sell Connections 80

Ironwood Capital

Transaction Criteria	Min	Max
Target Revenue	20	200
Target EBITDA	3	15
Investment Size	5	20
Enterprise Value	-	-
values in millions of USD

Transaction Criteria

Min

Max

Target Revenue

200

Target EBITDA

Investment Size

Enterprise Value

values in millions of USD

Year	≤ '16	'17	'18	'19	'20	'21	T
Buy (4.8/yr)	#	51	9	6	4	1	4	75
vol	$146M						$146M
Sell (4.0/yr)	#	22	1	4	7	5	3	42
vol	$457M			$120M			$577M
	117

Year

≤ '16

'17

'18

'19

'20

'21

Buy (4.8/yr)

vol

$146M

Sell (4.0/yr)

vol

$457M

$120M

$577M

117

Company	Date	Value	Type
Pete & Pete Container Services, Inc.	2021-07-14	-	Unknown
Garfield Heights, Ohio · www.peteandpeteinc.com
Power Technologies LLC	2021-07-08	-	Acquisition Financing
Temecula, California
Southern Design Landscaping and Concrete LLC	2021-05-12	-	Growth Capital
Cumming, Georgia
DSI Logistics LLC	2021-04-06	-	Add-on Acquisition
Brea, California · www.dsi-logistics.com
Curtis Bay Medical Waste Services	2021-04-01	-	Secondary Buyout
Baltimore, Maryland · www.curtisbaymws.com
Deal Partners LLC	2021-01-11	-	Growth Capital
Miami, Florida · www.dealpartners.com
Alcom LLC	2021-01-04	-	Secondary Buyout
Winslow, Maine · www.alcomusa.com
Cox Transportation Services, Inc.	2020-11-11	-	Recapitalization
Ashland, Virginia · www.truckingforamerica.com
Performance Team LLC	2020-04-02	-	Add-on Acquisition
Santa Fe Springs, California · www.performanceteam.net
Air Temp Mechanical Services, Inc.	2020-02-12	-	Stake Sale
Southington, Connecticut · www.ctairtemp.com
View All >>

Company

Date

Value

Type

Pete & Pete Container Services, Inc.

2021-07-14

Unknown

Garfield Heights, Ohio · www.peteandpeteinc.com

Power Technologies LLC

2021-07-08

Acquisition Financing

Temecula, California

Southern Design Landscaping and Concrete LLC

2021-05-12

Growth Capital

Cumming, Georgia

DSI Logistics LLC

2021-04-06

Add-on Acquisition

Brea, California · www.dsi-logistics.com

Curtis Bay Medical Waste Services

2021-04-01

Secondary Buyout

Baltimore, Maryland · www.curtisbaymws.com

Deal Partners LLC

2021-01-11

Growth Capital

Miami, Florida · www.dealpartners.com

Alcom LLC

2021-01-04

Secondary Buyout

Winslow, Maine · www.alcomusa.com

Cox Transportation Services, Inc.

2020-11-11

Recapitalization

Ashland, Virginia · www.truckingforamerica.com

Performance Team LLC

2020-04-02

Add-on Acquisition

Santa Fe Springs, California · www.performanceteam.net

Air Temp Mechanical Services, Inc.

2020-02-12

Stake Sale

Southington, Connecticut · www.ctairtemp.com

View All >>

Sector	Current #	Value	All-time #	Value
Environmental	3 (9%)	-	11 (15%)	-
Manufacturing	6 (18%)	-	10 (13%)	-
Consumer Products	2 (6%)	-	5 (7%)	-
Business Services	3 (9%)	-	4 (5%)	-
Construction	3 (9%)	-	4 (5%)	-
Transportation	1 (3%)	-	4 (5%)	-
Electrical Equipment	1 (3%)	-	3 (4%)	-
Chemicals	-	-	2 (3%)	114M (78%)
Aerospace	-	-	2 (3%)	25M (17%)
Apparel/Textiles	2 (6%)	7M (100%)	2 (3%)	7M (5%)
Consumer Services	1 (3%)	-	2 (3%)	-
Food	-	-	2 (3%)	-
Furniture	1 (3%)	-	2 (3%)	-
Machinery	1 (3%)	-	2 (3%)	-
Medical Products	-	-	2 (3%)	-
Metals/Mining	1 (3%)	-	2 (3%)	-
Safety/Security	1 (3%)	-	2 (3%)	-
Automotive	-	-	1 (1%)	-
Building Materials	1 (3%)	-	1 (1%)	-
Defense	1 (3%)	-	1 (1%)	-
Education	-	-	1 (1%)	-
Engineering	-	-	1 (1%)	-
Forest Products	1 (3%)	-	1 (1%)	-
Healthcare Services	-	-	1 (1%)	-
Information Technology	1 (3%)	-	1 (1%)	-
Internet Software and Services	1 (3%)	-	1 (1%)	-
Life Science	-	-	1 (1%)	-
Oil/Gas Exploration	1 (3%)	-	1 (1%)	-
Plastics	1 (3%)	-	1 (1%)	-
Technology Hardware	-	-	1 (1%)	-
Utilities	1 (3%)	-	1 (1%)	-
Total	34	$7M	75	$146M

Sector

Current #

Value

All-time #

Value

Environmental

3 (9%)

11 (15%)

Manufacturing

6 (18%)

10 (13%)

Consumer Products

2 (6%)

5 (7%)

Business Services

3 (9%)

4 (5%)

Construction

3 (9%)

4 (5%)

Transportation

1 (3%)

4 (5%)

Electrical Equipment

1 (3%)

3 (4%)

Chemicals

2 (3%)

114M (78%)

Aerospace

2 (3%)

25M (17%)

Apparel/Textiles

2 (6%)

7M (100%)

2 (3%)

7M (5%)

Consumer Services

1 (3%)

2 (3%)

Food

2 (3%)

Furniture

1 (3%)

2 (3%)

Machinery

1 (3%)

2 (3%)

Medical Products

2 (3%)

Metals/Mining

1 (3%)

2 (3%)

Safety/Security

1 (3%)

2 (3%)

Automotive

1 (1%)

Building Materials

1 (3%)

1 (1%)

Defense

1 (3%)

1 (1%)

Education

1 (1%)

Engineering

1 (1%)

Forest Products

1 (3%)

1 (1%)

Healthcare Services

1 (1%)

Information Technology

1 (3%)

1 (1%)

Internet Software and Services

1 (3%)

1 (1%)

Life Science

1 (1%)

Oil/Gas Exploration

1 (3%)

1 (1%)

Plastics

1 (3%)

1 (1%)

Technology Hardware

1 (1%)

Utilities

1 (3%)

1 (1%)

Total

$7M

$146M

State/Country	Current #	Value	All-time #	Value
United States	34 (100%)	7M (100%)	75 (100%)	146M (100%)
	Connecticut	7 (21%)	7M (100%)	17 (23%)	32M (22%)
	California	2 (6%)	-	8 (11%)	-
	Texas	3 (9%)	-	5 (7%)	-
	New Jersey	-	-	5 (7%)	-
	New York	1 (3%)	-	4 (5%)	-
	Pennsylvania	2 (6%)	-	3 (4%)	-
	Illinois	2 (6%)	-	3 (4%)	-
	Ohio	1 (3%)	-	3 (4%)	-
	Massachusetts	-	-	3 (4%)	-
	Wisconsin	2 (6%)	-	2 (3%)	-
	Virginia	2 (6%)	-	2 (3%)	-
	Maine	2 (6%)	-	2 (3%)	-
	Florida	2 (6%)	-	2 (3%)	-
	North Carolina	1 (3%)	-	2 (3%)	-
	Georgia	1 (3%)	-	2 (3%)	-
	Arkansas	1 (3%)	-	2 (3%)	-
	Washington	1 (3%)	-	1 (1%)	-
	Vermont	1 (3%)	-	1 (1%)	-
	Tennessee	1 (3%)	-	1 (1%)	-
	Mississippi	1 (3%)	-	1 (1%)	-
	Michigan	1 (3%)	-	1 (1%)	-
	Delaware	-	-	1 (1%)	114M (78%)
	Rhode Island	-	-	1 (1%)	-
	Oklahoma	-	-	1 (1%)	-
	Maryland	-	-	1 (1%)	-
	District of Columbia	-	-	1 (1%)	-
Total	34	$7M	75	$146M

State/Country

Current #

Value

All-time #

Value

United States

34 (100%)

7M (100%)

75 (100%)

146M (100%)

Connecticut

7 (21%)

7M (100%)

17 (23%)

32M (22%)

California

2 (6%)

8 (11%)

Texas

3 (9%)

5 (7%)

New Jersey

5 (7%)

New York

1 (3%)

4 (5%)

Pennsylvania

2 (6%)

3 (4%)

Illinois

2 (6%)

3 (4%)

Ohio

1 (3%)

3 (4%)

Massachusetts

3 (4%)

Wisconsin

2 (6%)

2 (3%)

Virginia

2 (6%)

2 (3%)

Maine

2 (6%)

2 (3%)

Florida

2 (6%)

2 (3%)

North Carolina

1 (3%)

2 (3%)

Georgia

1 (3%)

2 (3%)

Arkansas

1 (3%)

2 (3%)

Washington

1 (3%)

1 (1%)

Vermont

1 (3%)

1 (1%)

Tennessee

1 (3%)

1 (1%)

Mississippi

1 (3%)

1 (1%)

Michigan

1 (3%)

1 (1%)

Delaware

1 (1%)

114M (78%)

Rhode Island

1 (1%)

Oklahoma

1 (1%)

Maryland

1 (1%)

District of Columbia

1 (1%)

Total

$7M

$146M

Type	Current #	Value	All-time #	Value
Buyout (LBO, MBO, MBI)	6 (18%)	7M (100%)	25 (33%)	121M (83%)
Growth Capital	10 (29%)	-	17 (23%)	-
Recapitalization	6 (18%)	-	11 (15%)	-
Secondary Buyout	7 (21%)	-	10 (13%)	-
Venture	3 (9%)	-	9 (12%)	-
Acquisition Financing	1 (3%)	-	2 (3%)	25M (17%)
Divestiture	1 (3%)	-	1 (1%)	-
Total	34	$7M	75	$146M

Type

Current #

Value

All-time #

Value

Buyout (LBO, MBO, MBI)

6 (18%)

7M (100%)

25 (33%)

121M (83%)

Growth Capital

10 (29%)

17 (23%)

Recapitalization

6 (18%)

11 (15%)

Secondary Buyout

7 (21%)

10 (13%)

Venture

3 (9%)

9 (12%)

Acquisition Financing

1 (3%)

2 (3%)

25M (17%)

Divestiture

1 (3%)

1 (1%)

Total

$7M

$146M

Type	Total #	Value
Trade Sale	15 (36%)	-
Trade Sale - Public Company	10 (24%)	577M (100%)
Secondary Sale	10 (24%)	-
Recapitalization	2 (5%)	-
Stake Sale	2 (5%)	-
Unknown	2 (5%)	-
Merger	1 (2%)	-
Total	42	$577M

Type

Total #

Value

Trade Sale

15 (36%)

Trade Sale - Public Company

10 (24%)

577M (100%)

Secondary Sale

10 (24%)

Recapitalization

2 (5%)

Stake Sale

2 (5%)

Unknown

2 (5%)

Merger

1 (2%)

Total

$577M

buy	#	Total
$100M to $1B	1	$114M
< $100M	2	$32M
TOTAL	$146M
Largest	DelStar Technologies, Inc. $114M (2005-12-02)

buy

Total

$100M to $1B

$114M

< $100M

$32M

TOTAL

$146M

Largest

DelStar Technologies, Inc.
$114M (2005-12-02)

sell	#	Total
$100M to $1B	3	$480M
< $100M	3	$98M
TOTAL	$577M
Largest	DelStar Technologies, Inc. $232M (2013-11-18)

sell

Total

$100M to $1B

$480M

< $100M

$98M

TOTAL

$577M

Largest

DelStar Technologies, Inc.
$232M (2013-11-18)

		Deals
Acquired from
Investor(s)	15%	11 (15%)
Strategic(s)	1%	1 (1%)
Exited to
Investor(s)	29%	12 (29%)
Strategic(s)	62%	26 (62%)

Deals

Acquired from

Investor(s)

11 (15%)

Strategic(s)

1 (1%)

Exited to

Investor(s)

12 (29%)

Strategic(s)

26 (62%)

Ironwood Capital Mergers and Acquisitions Summary

Growth Capital Firm Profile

M&A Summary