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AVON, CONNECTICUT – February 28, 2023 – Ironwood Capital is pleased to announce subordinated debt and equity investments to support High Street Capital’s acquisition of Pinnacle Contracting Services, LLC (“Pinnacle”). The investment in Pinnacle is complimentary to an existing portfolio company of Ironwood and High Street Capital, Southern Design Landscaping and Concrete (“Southern Design”), and expands their market position in concrete services in the Southeast.
Headquartered in Kernersville, North Carolina, Pinnacle provides structural, flatwork, and finishing concrete services to single-family and multi-family residential customers across the North and South Carolina markets. Southern Design provides professional landscaping and concrete finishing services to homebuilders and developers throughout the Metro Atlanta, Georgia and Panama City, Florida markets. These two companies represent a multi-service provider with dominant market position from North Carolina to the Florida panhandle.
“Pinnacle is one of a few providers across its markets with the scale and professionalization to effectively service large neighborhood projects. The company’s strong market position and Tier-1 customer base provide a significant competitive advantage as it continues to expand,” stated Alex Levental, Partner at Ironwood Capital. “The investment in Pinnacle presents an opportunity to create value in tandem with Southern Design by sharing best practices and executing on joint growth initiatives.”
About Ironwood Capital
Over 20 Years of Middle Market Investing
Ironwood Capital provides non-control growth capital to middle market companies across the U.S. The Firm has invested more than $1 billion in over 100 companies since 2001 and currently invests subordinated debt and minority equity in amounts ranging from $10 million to $30 million. Ironwood’s investments support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions, and buyouts. For more information, visit: ironwoodcap.com
About Pinnacle Contracting Services
Founded in 2011 and based in Kernersville, North Carolina, Pinnacle provides structural concrete, flatwork and finishing services primarily to multi-family and single-family homebuilders. For more information, visit: pinnaclenc.com.
Media Contacts
Carolyn C. Galiette
Partner, President and
Chief Investment Officer
(860) 409-2105
galiette@ironwoodcap.com
Kimberly A. Craig
Vice President
Investment Operations
(860) 409-2125
craig@ironwoodcap.com
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