AVON, CONNECTICUT, February 5, 2018 – Ironwood Capital is pleased to announce an exit from its investment in Gold Medal Services (“Gold Medal”), a waste management and recycling company. Gold Medal was sold to Kinderhook Industries (“Kinderhook”) which invested in partnership with BioHiTech Global (“BioHiTech”). Kinderhook is a New York-based private investment firm that manages over $2.0 billion of committed capital. BioHiTech, headquartered in Chestnut Ridge, New York, develops and deploys innovative and disruptive waste management technologies.
Gold Medal is headquartered in Deptford, New Jersey and services Pennsylvania, New Jersey and Delaware. The company offers a complete range of integrated environmental services to thousands of customers in the region and serves residential, institutional, commercial and industrial locations. Gold Medal offers collection, recycling, disposal and dumpster rental services 24 hours a day and seven days a week. Ironwood made its original investment in Gold Medal in 2015.
“We are proud to have recognized the growth potential for Gold Medal and provided the resources required to get the company to the next level. The company is well positioned for strong growth in the densely populated Philadelphia and Southern New Jersey markets,” stated Dickson Suit, Ironwood Capital managing director. “We are pleased with our hand-off to Kinderhook/BioHiTech and confident of their ability to execute on their vision of a next-generation sustainable environmental services company.”
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 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.
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