05/09/2022 | Announcement
Ironwood Capital Announces Subordinated Debt and Equity Investments in Mid-West Textile, LLC
AVON, CONNECTICUT, May 9, 2022 – Ironwood Capital is pleased to announce subordinated debt and equity investments in Mid-West Textile, LLC (“Mid-West”).
Founded in 1982 and headquartered in El Paso, Texas, Mid-West is a vertically integrated textile recycling operation that reduces post-consumer waste by efficiently collecting, sorting and grading donated textiles that are then sold through Mid-West’s existing U.S. thrift retail network, through its domestic wholesale division, or to numerous international markets. Mid-West’s operations are optimized to address the rising number of discarded textiles in the United States, with a goal of offering high quality second-hand products to consumers and reducing landfill waste.
Ironwood Capital Partner Alex Levental stated, “We are excited to partner with the management team at Mid-West, which has built a strong, vertically integrated business model with unique characteristics, including the company’s growing retail channel and its efficient sorting and grading operation. We also see enormous value in investing into a company that reduces textile waste, which has grown significantly over the past decade.”
“Mid-West’s hub-and-spoke model offers a pathway for high quality recycled products to be reintroduced to the apparel market at a dramatically lower carbon footprint than that of new clothing. We look forward to supporting management as the company continues to expand its presence in this important sector,” said Ironwood Capital Director Adam Dotson.
About Ironwood Capital
Celebrating 20 Years of Middle Market Investing
Ironwood Capital provides non-control growth capital to middle market companies across the U.S. The Firm has invested more than $1 billion in over 100 companies since 2001 and currently invests subordinated debt and minority equity in amounts ranging from $10 million to $30 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: ironwoodcap.com.
About Mid-West Textile
Mid-West is a leading textile recycler, retailer, and grader that provides an array of clothing and housewares for international export, domestic wholesale, and thrift retail end-markets. Mid-West reduces post-consumer waste while creating new supply chains for organizations in the U.S. and around the world.
For more information, please visit: mid-westtextile.com.
Media Contacts
Carolyn C. Galiette Partner,
President and
Chief Investment Officer
(860) 409-2105
galiette@ironwoodcap.com
Kimberly A. Craig
Vice President
Investment Operations
(860) 409-2125
craig@ironwoodcap.com
