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01/07/2020 | Announcement
Ironwood Capital Portfolio Company NSA Industries Acquires Vitex Extrusions

AVON, CONNECTICUT, January 7, 2020 – Ironwood Capital is pleased to announce that precision manufacturer NSA Industries (“NSA”), a portfolio company of the firm, has acquired Vitex Extrusions (“Vitex”), a Franklin, New Hampshire-based manufacturer of metal extrusions. NSA, headquartered in St. Johnsbury, Vermont, is the largest provider of multi-operation metal contract manufacturing and precision machining in the Northeast.

“When we originally invested in NSA in late 2017, the plan was to continue company expansion and diversification through organic growth and strategic acquisitions,” noted Alex Levental, Ironwood Capital managing director. “NSA did not have extrusion capability. With the Vitex acquisition, NSA adds to the breadth of its capabilities and expands the company’s sales into the transportation, consumer durable goods, building products, and electrical products end markets.”

NSA Industries is the largest provider of multi-operation metal contract manufacturing and precision machining in the Northeast.

“NSA is an existing customer of Vitex, so this acquisition is a great fit,” noted Jim Moroney, CEO of NSA. “We’re pleased to continue to execute on our growth strategy.”

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 18 years. Ironwood invests in the form of subordinated debt and preferred stock in amounts ranging from $8 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 https://ironwoodcap.com/.

About NSA Industries
NSA was founded in 1982 and is headquartered in St. Johnsbury, Vermont. It has over 500 employees and operates six manufacturing facilities: three in St. Johnsbury, Vermont; one in Groveton, New Hampshire; one in Ipswich, Massachusetts and one in Georgetown, Massachusetts. NSA’s service offering includes precision machining, fabrication, powder coating and assembly operations. NSA partners with its customers, providing an outsourced, one-stop-shop solution for the manufacturing and assembly of their products. For more information, please visit www.nsaindustries.com.

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

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