Private equity firm Ironwood Capital has announced an investment of subordinated debt to support the recent $51 million purchase of the Uniloy blow molding machinery business by two other private equity firms, Osgood Capital Group LLC and Cyprium Investment Partners LLC.
Milacron Holdings Corp. completed the sale of its blow molding operation July 2.
Ironwood Capital of Avon, Conn., did not release details the amount of its investment. The firm provides non-controlling growth capital to middle market companies, investing in the form of subordinated debt and preferred stock in amounts ranging from $8 million to $20 million.
Alex Levental, managing director at Ironwood Capital, said Uniloy is a global company and holds more than 80 patents worldwide.
"It holds leading market share in key categories and enjoys an average tenure of over 30 years with its top 20 customers," he said, adding that a broad product offering allows the company to respond to customer needs.
"Importantly, the long-tenured management team will remain in place, supported by a group of senior advisers with deep experience in the industry," Levental added.