AVON, CONNECTICUT, August 31, 2015 – Ironwood Capital is pleased to announce an investment in Hobbs Bonded Fibers (“Hobbs”) in the form of subordinated debt and common equity.
This investment was made in conjunction with an investment in Hobbs by Taglich Private Equity, a private equity firm based in New York.
Founded in 1953 and headquartered in Waco, Texas, Hobbs specializes in developing and manufacturing specialty nonwoven products for industrial and consumer markets.
“Hobbs is an attractive investment for us,” said Dickson Suit, managing director at Ironwood Capital. “Its diversified product line and partnerships with industry-leading companies in the development of custom products creates a runway for growth.”
“In addition to its strong position in the design and manufacture of many different automotive products, Hobbs has an exciting product development pipeline to expand into new markets,” noted Carolyn Galiette, senior managing director at Ironwood Capital. “This drive toward innovation bodes well for its future.”
About 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 Hobbs Bonded Fibers
Hobbs Bonded Fibers (ISO certified 9001:2000) specializes in developing and manufacturing specialty nonwoven products for industrial and consumer markets. The use of synthetic, natural and specialty fibers allows Hobbs Bonded Fibers the flexibility to design products to a customer’s exact specifications. For more information visit: www.hobbsbondedfibers.com.