11/10/2014 | Announcement
Ironwood Capital Portfolio Company American Blanching Acquired by Post Holdings, Inc.
AVON, CONNECTICUT, November 10, 2014 – Ironwood Capital, a Connecticut-based private equity firm that provides non-control growth capital to middle market companies, announced that one of its portfolio companies, American Blanching Company, has been acquired by Post Holdings, Inc., effective November 1, 2014.
American Blanching Company, based in Fitzgerald, Georgia, is a leader in the production of peanut butter for national brands, private label retail and industrial markets.
Post Holdings, Inc. manufactures, markets and distributes ready-to-eat cereals, snacks, and active nutrition products in the United States and Canada. The company was founded in 1895 and is based in St. Louis, Missouri.
“Our investment in American Blanching allowed the company to expand its facilities, develop new products and serve new markets,” said Dickson Suit, managing director, Ironwood Capital. “We recognized strong macro trends and a lot of growth potential. Management, with the support and resources of Taglich, did a fantastic job executing to plan,” commented Suit. “We’re extremely pleased with the management team’s performance and our partnership with Ironwood,” said Richard Baum of Taglich Private Equity.
“We appreciate the confidence Ironwood Capital showed in our company. Their investment was timely and enabled us to capitalize on several opportunities,” said Jack Warden, president and CEO of American Blanching Company.
About Ironwood Capital
With over $500 million of capital under management, Ironwood Capital is a Connecticut-based private equity firm that provides non-control growth capital to middle market companies. We take a straightforward approach in providing profitable, well-managed companies with growth and transition capital coupled with strategic, operational and financial guidance. With over 25 years of middle market experience, 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.
About Taglich Private Equity LLC
Taglich Private Equity specializes in acquisitions, investments, and recapitalizations of lower middle market companies and has completed buyouts and add-ons totaling over $500 million since 2006. Taglich seeks to partner with management teams that can take advantage of their financial and operational expertise.
About American Blanching Company
American Blanching Company, based in Fitzgerald, Georgia, is a leader in the production of peanut butter for national brands, private label retail and industrial markets. In addition, American Blanching Company provides services for the commercial peanut industry such as blanching, cleaning and sorting.
