Investment Summary

Ironwood Capital, Anvil Capital and Advantage Capital Partners Invest In Air Temp Mechanical Services

On October 7, 2015, growth capital firm Ironwood Capital, private equity firm Anvil Capital and growth capital firm Advantage Capital Partners invested in manufacturer Air Temp Mechanical Services

Investment Highlights
  • This is Ironwood Capital’s 7th, Anvil Capital’s 3rd and Advantage Capital Partners’ 8th transaction in the Manufacturing sector.
  • This is Ironwood Capital’s 47th, Anvil Capital’s 6th and Advantage Capital Partners’ 181st transaction in the United States.
  • This is Ironwood Capital’s 14th, Anvil Capital’s 1st and Advantage Capital Partners’ 16th transaction in Connecticut.

Investment Summary

Date 2015-10-07
Target Air Temp Mechanical Services
Sector Manufacturing
Investor(s) Ironwood Capital
Anvil Capital
Advantage Capital Partners
Deal Type Growth Capital

Target

Air Temp Mechanical Services

Berlin, Connecticut, United States
Air Temp Mechanical Services is a HVAC service providers. Air Temp Mechanical Services operates as a full-service mechanical contractor with an emphasis on design-build, service, maintenance, controls, retrofits, replacements, and energy management systems. Air Temp Mechanical Services was founded in 1978 and is based in Berlin, Connecticut.

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Investor(S) 3

Investor

Ironwood Capital

Avon, Connecticut, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1986
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ironwood Capital is a private investment firm that makes equity and subordinated debt investments in lower middle-market companies. Investment proceeds are generally used to support leveraged buyouts, growth financings, and recapitalizations. Investments typically range from $10 to $40 million in companies generating $20 to $250 million in annual sales. Target sectors include healthcare products/services, value-added manufacturing, business services, consumer products, specialty distribution, and education. Ironwood prefers opportunities East of the Mississippi, but will selectively consider investments in the Western US. The Firm's investment horizon is three to five years. Ironwood Capital was formed in 2002 and is based in Avon, Connecticut.


DEAL STATS #
Overall 47 of 95
Sector (Manufacturing) 7 of 17
Type (Growth Capital) 9 of 31
State (Connecticut) 14 of 20
Country (United States) 47 of 95
Year (2015) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-25 Hobbs Bonded Fibers

Waco, Texas, United States

Hobbs Bonded Fibers is a manufacturer of specialty nonwoven products for industrial and consumer applications, with a focus on the Automotive and Quilt Batting markets. Hobbs Bonded Fibers was founded in 1953 and is based in Waco, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-01 AxioMx

Branford, Connecticut, United States

AxioMx, Inc. is a innovator of phage display antibody technologies and a leading provider of recombinant antibody development and production services. The current monoclonal and polyclonal antibody development paradigm is too slow and does not always result in consistent, renewable, and quality antibodies. Until recently the timelines and cost of phage display protocols have made the method impractical for most research and diagnostic reagent purposes. AxioMx’s innovative improvements to traditional phage display methods now make phage display a favored approach to antibody development for research, diagnostic, and therapeutic applications.

Sell $20M
Investor

Anvil Capital

Boston, Massachusetts, United States

Investor Investor


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Anvil Capital LLC is a private investment firm that seeks equity investments in established, privately held businesses. The Firm pursues companies with revenues of $5 to $20 million and EBITDA between $1 and $3 million. Anvil looks for businesses with significant organic and acquisition growth opportunities. Funds are generally used to support generational transitions of family businesses, recapitalizations, industry consolidations, and corporate divestitures. Anvil avoids investing in companies that are turnarounds, early stage, or operate in the industries of high technology, real estate, and healthcare. Anvil Capital was formed in 2002 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 6 of 10
Sector (Manufacturing) 3 of 4
Type (Growth Capital) 3 of 3
State (Connecticut) 1 of 1
Country (United States) 6 of 10
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-17 Enefco USA

Auburn, Maine, United States

Enefco USA is a manufacturer of cleaning cards, cosmetic foam applicators, leatherboard shoe counters, and industrial dies. Enefco USA was founded in 1973 and is based in Auburn, Maine.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-30 Precision Manufacturing Group

Cedar Grove, New Jersey, United States

Precision Manufacturing Group LLC is a designer and manufacturer of precision electrodeposited nickel bellows, bellows assemblies, flexible shaft couplings, electrical contacts, and lightweight structural electroforms.

Sell -
Investor

Advantage Capital Partners

New Orleans, Louisiana, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1992
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Advantage Capital Partners is a private equity firm focused on providing growth capital to a variety of companies. The Firm's geographic coverage includes Alabama, Colorado, Florida, Hawaii, Louisiana, Mississippi, Missouri, New York, Texas, Wisconsin and Washington DC. Advantage looks to initially commit $0.5 to $2 million per investment and can provide mezzanine debt in addition to equity capital. Areas of interest include communications, information technology, life science, and energy. Advantage Capital was formed in 1992 and is headquartered in New Orleans, Louisiana.


DEAL STATS #
Overall 182 of 272
Sector (Manufacturing) 8 of 14
Type (Growth Capital) 38 of 78
State (Connecticut) 16 of 24
Country (United States) 181 of 270
Year (2015) 14 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-29 ACT Aerospace

Gunnison, Utah, United States

ACT Aerospace is a manufacturer of specialized composite design, analysis and production for the military and commercial aerospace industries. ACT Aerospace was founded in 2004 and is based in Gunnison, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-01 Minimally Invasive Devices

Columbus, Ohio, United States

Minimally Invasive Devices is a surgical device company, which develops surgical tools for minimally invasive surgeries. Minimally Invasive Devices is based in Columbus, Ohio.

Buy -