AVON, CONNECTICUT, April 26, 2017 – Ironwood Capital is pleased to announce that Richard H. “Rick” Wheeler has been appointed chief executive officer of Merrill Industries, an Ironwood Capital Connecticut portfolio company. Merrill designs and manufactures corrugated packaging. Rick was previously the CEO of Capewell Aerial Systems LLC, an Ironwood Capital portfolio company. Capewell is amanufacturer of aerial delivery and life support systems for defense and aerospace-related applications.
“Ironwood has a deep bench of high-performing executives that we are able to source and place appropriately,” stated Alex Levental, managing director at Ironwood Capital. “With the appointment of Rick as CEO at Merrill, the company has the leadership and management depth to pursue both organic growth and an acquisition strategy. Management will be pursuing acquisitions of other Northeast-based corrugated box manufacturers.”
“I am excited to be part of such a solid organization. Merrill is a leading regional designer and manufacturer of customized packaging products. This strong foundation, along with the excellent company reputation for service, reliability and quality built over the past four decades presents opportunities for growth through geographic expansion, increasing market share, strategic acquisitions and operational efficiencies and we’ve got the team to get it done,” noted Wheeler.
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 $600 million in over 100 companies over the past 15 years. Ironwood Capital 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. Ironwood Capital Connecticut, a unit of Ironwood Capital, works exclusively with Connecticut-based companies seeking capital across the entire financing spectrum and at every lifecycle stage. For more information, please visit www.ironwoodcap.com.
About Merrill Industries
Merrill Industries, headquartered in Ellington, Connecticut, has been in the packaging business for over forty years. It specializes in quality packaging for customers in a variety of industries. The company focuses primarily on the design and manufacture of containers from corrugated sheets and continues to provide other packaging services. For more information, go to: www.merrillind.com.
Carolyn C. Galiette
Chief Investment Officer
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