02/12/2019 | Announcement
Ironwood Capital Announces Sale of Tunnel Hill Partners
AVON, CONNECTICUT, February 12, 2019 – Ironwood Capital is pleased to announce an exit from its investment in Tunnel Hill Partners (Tunnel Hill), which was sold to Macquarie Group.
Tunnel Hill is the largest integrated waste-by-rail operator in the United States with five waste-by-rail transfer stations in the Northeast, two rail-served landfills in Ohio, the largest beneficial use site in Pennsylvania (also rail-served), a hauling operation with transfer stations in Connecticut and a recycling operation in Massachusetts. The company provides a variety of services including hauling, recycling, beneficial reuse, transfer and disposal to commercial and industrial customers throughout the Northeast and Ohio.
“Our relationship with the Tunnel Hill team has been very positive,” noted Ironwood Capital Managing Director Dickson Suit. “Management has done a fantastic job executing to plan and driving growth. We wish them much success going forward.”
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 $700 million in over 130 companies over the past 17 years. Ironwood invests in the form of subordinated debt and preferred stock in amounts ranging from $8 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.
About Tunnel Hill
Tunnel Hill Partners is a fully integrated, non-hazardous solid waste handling company. It was founded in 2008 by the principals at American Infrastructure MLP Funds as a platform for servicing the waste industry. The company is headquartered in Stamford, Connecticut, with assets in Long Island, New York City, New Jersey, Pennsylvania, Massachusetts, and Ohio. For more information, please visit www.tunnelhillpartners.com.
