Cyprium Partners, a middle-market private equity firm, has made an investment in Ironwood Power Services, headquartered in Rochester, New York. This marks the firm’s 95th platform investment and 13th 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.
Ironwood Power Services Tombstone“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.”