AVON, CONNECTICUT, October 7, 2015 – Ironwood Capital Connecticut is pleased to announce that it has made an investment in Air Temp Mechanical Services, Inc., in the form of subordinated debt and equity.
This investment in Air Temp, based in Southington, Connecticut, was made in conjunction with an investment by Anvil Capital, a Boston-based private equity firm. Ironwood Capital Connecticut is focused exclusively on investments in Connecticut businesses and was created in connection with the Connecticut reinvestment statute, a bipartisan package intended to create jobs, spur innovation and strengthen the state’s economy.
“We are pleased to be able to work with Anvil Capital to provide funding to Air Temp. The business has an impressive Connecticut customer base and this infusion of capital will create jobs and enable expansion in both existing and new markets,” stated Alex Levental, managing director, Ironwood Capital. “Air Temp’s expertise in Variable Refrigerant Flow technology improves HVAC customer energy efficiency up to 30%. We’re excited to support this kind of green technology.”
“Working with the Ironwood Capital team was a positive experience as they took a simple, straightforward approach to providing Air Temp with growth and transition capital,” said Ben Giess, managing partner of Anvil Capital.
“Partnering with Ironwood Capital and Anvil Capital will provide Air Temp with resources to continue the company’s organic and acquisition growth plan,” said Jeffrey Leone, president of Air Temp.
About Ironwood Capital
About Air Temp Mechanical Services, Inc.