AVON, CONNECTICUT, November 19, 2014 – Advantage Capital Partners, a growth capital and small business finance firm, and Ironwood Capital Connecticut, a private equity fund manager which provides capital to Connecticut-based companies, today announced a mezzanine debt investment in C&M Technologies Group (“C&M”).
C&M, owned by the Watermill Group, a Lexington, Massachusetts based private equity firm, is a leading manufacturer of design wire and cable, cable assemblies and retractable coil cords that meet the most demanding performance specifications for both power and signal. Headquartered in Wauregan, CT, C&M provides superior speed to market, delivering engineering value through custom wire and cable assembly products for the most harsh and demanding environments.
The investment in C&M was made through Advantage Capital Connecticut Partners I, Limited Partnership (“the Fund”), which is co-managed by Advantage Capital and Ironwood Capital Connecticut. The Fund is focused exclusively on investments in Connecticut businesses and was created in connection with the Connecticut jobs statute, a bipartisan package intended to create jobs, spur innovation and strengthen the state’s economy.
With this infusion of mezzanine debt, C&M is well capitalized to continue to pursue its growth strategy. “We are investing in C&M Technologies Group to support the company’s ability to continue to build its business,” said Victor Budnick, managing partner, Ironwood Capital Connecticut. “C&M is already an industry leader in design and manufacture of cable products. We’re pleased to support continued development of this outstanding Connecticut company.”
“This funding comes at a perfect time for C&M as we continue to execute on our strategy of creating a high performance work culture, adding additional operational capabilities and infrastructure. This support enables C&M to continue to offer custom engineered cable solutions at the highest levels of service to our customers,” said John Laskowsky, CEO of C&M Technologies. “We are excited to work with Advantage and Ironwood, firms as committed to the Connecticut economy as we are.”
About Ironwood Capital
Ironwood Capital Connecticut is a unit of Ironwood Capital. With over $500 million of capital under management, Ironwood Capital is a Connecticut-based private equity firm that provides non-control growth capital to middle market companies. We take a simple, straightforward approach in providing profitable, well-managed companies with growth and transition capital coupled with strategic, operational and financial guidance. With over 25 years of middle market experience, 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. Throughout, we seek to simplify a process that is often unnecessarily wrought with complexity and contention. For more information, please visit www.ironwoodcap.com.
About Advantage Capital Partners
Advantage Capital Partners provides equity and debt financing to established and emerging companies located in communities underserved by conventional sources of capital. Since 1992, the firm has invested more than $1.9 billion in companies from a diverse array of industry sectors including manufacturing, technology and business services, among others and has offices in New Orleans, St. Louis, New York, Austin and other locations.
Advantage Capital Partners is an investment adviser registered under the Investment Adviser Act of 1940. Registration does not imply a certain level of skill or training. This release is not intended to be an advertisement subject to the rules under the Investment Advisers Act of 1940.
C&M Technologies Group, based in Wauregan, CT, is a manufacturer of design wire and cable, cable assemblies and retractable coil cords that meet performance specifications for both power and signal for the world’s most demanding industrial, military and medical systems. With the ability to engineer and produce custom cable products quickly, C&M helps our customers minimize their technical and supply chain risks. C&M is owned by private equity firm, the Watermill Group.