Cyprium Partners Completes Investment in Ironwood Power Services

CLEVELAND, Sept. 21, 2021 /PRNewswire/ -- Cyprium Partners, a middle-market private equity firm, is pleased to announce an investment in Ironwood Power Services, headquartered in Rochester, New York. This marks the firm's 95^th platform investment and 13^th alongside an independent sponsor during its 23-year history. In partnership with Empeiria Capital, an independent sponsor, and Tim Pope, CEO, Cyprium's subordinated debt and equity investment was used to support a buyout of Ironwood Heavy Highway and Terry Tree Service, creating Ironwood Power Services.

Ironwood provides a diversified set of critical services to the electric power industry, including vegetation management, substation and civil construction, site clearing and environmental matting services. Ironwood serves utilities, electrical contractors and renewable energy customers in the greater New York state region.

"We are pleased to be supporting Ironwood Power Services in its important work toward maintaining and improving the reliability of the electric power grid," said Lee Lewis, Partner at Cyprium Partners. "In addition, the company has a growing role in the efforts by its utility customers to migrate toward renewable energy and a carbon neutral electric power industry." 

Tim Pope, CEO of Ironwood Power Services, added "As we look ahead to the next decade, there is a tremendous need for our industry to invest and grow alongside our customers. I am pleased to be partnering with Empeiria, Cyprium and our other investors to execute such a plan for Ironwood."

About Cyprium Partners
Cyprium Partners is a private equity and mezzanine firm focused on non-controlling investments in profitable middle-market companies, allowing company owners and their management teams to retain a controlling interest in their businesses. Cyprium provides common equity, preferred stock, subordinated debt, or any combination thereof, offering flexibility and increasing the certainty of close. 

With offices in Cleveland, New York, and Chicago, the firm invests $10 million to $60 million per transaction in U.S. and Canadian companies with $8 million or more of EBITDA. Since the late 90s, our team has invested $1.8 billion in 95 platform investments. Learn more about Cyprium Partners at cyprium.com.

SOURCE Cyprium Partners