01/26/2022 | Announcement
Ironwood Capital Announces Exit from Subordinated Debt Investment in Peltram Plumbing, LLC
AVON, CONNECTICUT, January 26, 2022 – Ironwood Capital is pleased to announce a 2021 year-end exit from its subordinated debt investment in Peltram Plumbing, LLC (“Peltram”).
Peltram is a provider of plumbing installation and maintenance and repair services to the multi-family, light commercial, and single-family end-markets with operations in Austin, Charlotte, Dallas, Houston, San Antonio, and Seattle.
“We have worked with Peltram management for the past 14 months to expand the company’s geographic reach, undertaking three strategic acquisitions. The goal was to create a bi-coastal plumbing services contractor that benefitted from economies of scale. Growth has been rapid and we are pleased with the company’s success,“ stated Alex Levental, partner at Ironwood Capital.
Karel Peltram, CEO of Peltram noted, “Ironwood Capital always shared our vision to create a bi-coastal plumbing business. We appreciated their guidance, connections and financial support during this period of rapid expansion.”
Peltram, a portfolio company of Crescendo Capital Partners, was sold to Stellex Capital Management.
About Ironwood Capital
Ironwood Capital is a Connecticut-based private equity firm that provides non-control growth capital to middle market companies. Its debt-oriented, national platform has invested more than $900 million in over 95 companies since 2001 and currently invests subordinated debt and minority equity in amounts ranging from $8 million to $25 million. Ironwood’s investments support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions and buyouts.
For more information, please visit: https://ironwoodcap.com.
About Peltram Plumbing, LLC
Peltram is a plumbing installation and service solutions provider, servicing the multi-family, light commercial, and single-family end-markets with operations in Austin, Charlotte, Dallas, Houston, San Antonio, and Seattle. Additional information may be found at:
https://peltramplumbing.com/
https://www.powerlp.com/
https://www.precisionplumbing.net/
https://www.erplumbing.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
