06/12/2018 | Announcement
Ironwood Capital Announces Subordinated Debt and Minority Equity Investment in Bush Industries
AVON, CONNECTICUT, June 12, 2018 – Ironwood Capital is pleased to announce a subordinated debt and minority equity investment in Bush Industries, headquartered in Jamestown, New York. Funding was provided by Ironwood Mezzanine Fund IV LP and its affiliated funds. The company is a leading manufacturer and distributor of high quality, affordably priced “ready to assemble” and fully assembled commercial and home office furniture.
“Bush’s product offerings, manufacturing process and delivery capabilities appeal to both traditional and on-line retailers,” stated Ironwood Capital president and chief investment officer Carolyn Galiette.
“Bush Industries has a strong competitive advantage given its breadth of product offerings and significant distribution capabilities. The company’s excellent platform and seasoned management team make it especially well-positioned to capture significant growth in the rapidly expanding e-commerce channel,” stated Alex Levental, managing director, Ironwood Capital.
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 17 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.
About Bush Industries
Bush Industries is a leading manufacturer and distributor of high quality, affordably priced “ready to assemble” and fully assembled commercial and household office furniture. The company has over 300 employees and is headquartered in Jamestown, New York with additional distribution facilities in Erie, Pennsylvania and Reno, Nevada. For more information, please visit www.bush.co.
Contact:
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
