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08/16/2021 | Announcement

Ironwood Capital Provides Follow-On Investment to Portfolio Company Peltram Plumbing Holdings to Facilitate Acquisition of Power Plumbing

AVON, CONNECTICUT, August 16, 2021 - Ironwood Capital is pleased to announce that its portfolio company, Peltram Plumbing Holdings, LLC (“Peltram”) has acquired Power Plumbing (“Power”), a plumbing services provider based in Houston, Texas, with a primary focus on the multifamily construction market. Ironwood Capital provided a follow-on investment in support of the acquisition. Peltram is a Crescendo Capital portfolio company.

The Power acquisition is the third for Peltram, which previously acquired Precision Plumbing in October 2020 and ER Plumbing in May 2021, both based in the Charlotte market. With the addition of Power, Peltram now has significant operations in Seattle, Charlotte, and throughout Texas, with expertise in single family, multifamily, and commercial construction, along with residential service capabilities in each of their markets.

“We have been very impressed with Peltram and its management team’s ability to grow organically and to integrate new divisions successfully,” noted Alex Levental, partner at Ironwood Capital. “We are pleased to support the company as they continue to expand their nationwide footprint.”

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 $850 million in over 90 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 Peltram Plumbing, LLC
Peltram Plumbing Holdings, LLC (“Peltram”) headquartered in Auburn, Washington, is a provider of plumbing and mechanical services for single-family and multi-family residential construction projects. Peltram serves both the East and West Coast regions and is the plumber of choice for an array of nationally recognized homebuilders, multi-family developers, and general contractors. For more information, please visit http://peltramplumbing.com/ .

Contacts
Carolyn C. Galiette
President and
Chief Investment Officer
(860) 409-2105
galiette@ironwoodcap.com

Kathy Butler
Marketing and
Communications Director
(860) 409-2117
butler@ironwoodcap.com