01/03/2018 | Announcement
Ironwood Capital Portfolio Company Ripley Tools Acquires Optical Design Manufacturing Inc.
AVON, CONNECTICUT, January 3, 2018 – Ironwood Capital is pleased to announce that Ripley Tools LLC, an Ironwood Capital portfolio company, has acquired Optical Design Manufacturing Inc. (ODM), a designer and manufacturer of quality fiber optic testing equipment. ODM’s electronics expertise expands Ripley’s current product offering and provides additional solutions to customers of their Miller® brand fiber optic cable preparation tool line. Effective immediately, the ODM line will be integrated and sold under the Ripley Tools umbrella.
“Over the past several years Ripley has flawlessly executed its strategic plan, resulting in consistent product and customer expansion,” noted Alex Levental, Ironwood Capital managing director. “We’re excited about the ODM acquisition and the increasing breadth and depth it provides to Ripley.”
Ripley Tools, through its Miller® brand, is the global leader in the design and manufacture of cutting, stripping and cable preparation tools in the fiber optic and telecommunications industries. “United by a common goal of producing high quality, innovative solutions for the fiber optic professional, we are excited for the opportunities this acquisition brings. I am confident we will increase the value to both Ripley and ODM customers while enhancing future growth and performance,” noted Christian Festa, president and CEO of Ripley Tools, LLC.
ODM, founded in 2003, is located in Laconia, New Hampshire. ODM products include optical power meters, laser and LED light sources, inspection scopes, optical fiber identification instruments, optical time-domain reflectometers and full testing kits. ODM is known to provide durable, dependable and accurate equipment, professional product training and 24-hour technical support. ODM’s entire operation, including technical service, customer service, design and production will remain in Laconia for the foreseeable future. “I am pleased to have the opportunity to work with Ripley Tools in growing the ODM testing equipment product line and I’m excited to integrate ODM into the Ripley brand portfolio,” stated Michael Schneider, ODM Inc. founder and president.
About Ironwood Capital
Ironwood Capital is a Connecticut-based private equity firm that provides non-control growth capital to middle market companies, investing more than $700 million in over 125 companies over the past 16 years. Ironwood invests in the form of subordinated debt and preferred stock in amounts ranging from $5 million to $20 million to support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions and buyouts. For more information, please visit www.ironwoodcap.com.
About Ripley Tools
Since 1936 Ripley Tools, headquartered in Cromwell, Connecticut with offices in the United Kingdom and China, has been proudly designing, manufacturing and assembling quality products. Ripley is the worldwide leading manufacturer of wire and cable preparation tools for the CATV, Fiber Optic, Electrical, Home Integration, Telecom and Utility Markets under the brands Miller®, Cablematic® and UtilityTool®. Ripley sells its products targeting the end user contractor through a worldwide network of distributors, focusing on quality and providing global solutions. Ripley products and authorized distributors can also be found at www.ripley-tools.com. Information specific to ODM brand products can be found at www.odm-inc.com.
Contacts
Carolyn C. Galiette
President and Chief Investment Officer
(860) 409-2105
galiette@ironwoodcap.com
Kathy Butler
Director of Marketing and Communications
(860) 409-2117
butler@ironwoodcap.com
