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10/25/2021 | Announcement
Ironwood Capital Exits Portfolio Company Momentum Manufacturing Group

AVON, CONNECTICUT, October 25, 2021 - Ironwood Capital is pleased to announce that it has exited its investment in precision manufacturer Momentum Manufacturing Group (MMG). MMG, headquartered in St. Johnsbury, Vermont, is the largest provider of multi-operation metal contract manufacturing and precision machining in the Northeast.

“The investment thesis for MMG, when Ironwood Capital originally invested in late 2017, was to grow the company organically and through strategic acquisitions in an effort to build a leading domestic engineered products manufacturer, providing a wide variety of finished, specialty products and sub-systems with metal components for diverse applications as a key strategic partner to customers,” noted Alex Levental, partner at Ironwood Capital.

Over the past three years MMG has invested significantly in automation-enabled production infrastructure and five strategic acquisitions which have each added key capabilities to enhance its service offering. MMG has developed into the leading network of end-to-end manufacturing services in the Northeast with owned manufacturing and process IP. These acquisitions and ongoing investment have allowed MMG to be a single-source provider with an unrivaled breadth of capabilities that meet the complete range of customer needs.

About Ironwood Capital
Ironwood Capital is a Connecticut-based private equity firm that provides non-control growth capital to middle market companies. Its debt-oriented, national platform has invested more than $900 million in over 95 companies since 2001. Ironwood currently invests in the form of subordinated debt and minority equity in amounts ranging from $8 million to $25 million to support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions and buyouts. For more information, please visit https://ironwoodcap.com.

About Momentum Manufacturing Group
The Momentum Manufacturing Group (MMG), formerly known as NSA Industries, is one of the top ten specialty manufacturing companies in the United States. It offers end to end metal and contract manufacturing capabilities. Four business units now operate under the MMG umbrella: New Hampshire Precision Fabricators; KC Precision, Metal Tronics and Vitex Extrusions. Throughout its nearly 40 year history, MMG has continually invested in technology, including a capital investment of over $50 million in the past seven years. For more information, please visit https://www.mmg1982.com.

Carolyn C. Galiette
President and
Chief Investment Officer
(860) 409-2105

Kathy Butler
Marketing and
Communications Director
(860) 409-2117