AVON, CONNECTICUT, January 8, 2019 – Ironwood Capital is pleased to announce an exit from its investment in FIBER-LINE®, a high-performance fiber manufacturer headquartered in Hatfield, Pennsylvania. The company was purchased by PolyOne Corporation (NYSE: POL), a provider of specialized polymer materials, services and solutions.
Founded in 1987, FIBER-LINE is a leading developer, manufacturer and marketer of high-tech fiber products for a growing range of industries and applications. With five manufacturing locations in North America, Europe and Asia, FIBER-LINE provides material science and polymer formulation expertise to engineer specified performance characteristics for fiber.
“FIBER-LINE has doubled its size from our initial investment. Under the leadership of CEO Dale Outhous, the company has developed a strong customer-centric culture while growing and diversifying its business,” stated Dickson Suit, managing director, Ironwood Capital. “We congratulate Dale and his team for past successes and wish them future successes with PolyOne.”
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 $750 million in over 130 companies over the past 17 years. Ironwood invests in the form of subordinated debt and preferred stock in amounts ranging from $8 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.
FIBER-LINE® is an international high-performance fiber manufacturer with over 150 employees and four locations: Hatfield, Pennsylvania; Hickory, North Carolina; Leeuwarden, The Netherlands; and Shanghai, China. Together with its subsidiary, FIBER-LINE® provides high quality products to a broad range of markets for customers around the globe. For more information, visit the company’s website at https://www.fiber-line.com.
Carolyn C. Galiette
Chief Investment Officer
Director of Marketing