Ironwood Capital sells Numet Machining Techniques
Ironwood Capital has exited its investment in Numet Machining Techniques (Numet), which has been sold to Bromford Industries.
Numet, headquartered in Orange, Connecticut, is a manufacturer of precision machined components requiring complex geometries and exotic alloys. Numet supplies many of the key leading aerospace engine platforms. Its customers include Pratt & Whitney, GE Aviation and the US Department of Defense.
Ironwood Capital Managing Director, Jim Barra, says:, "Ironwood Capital is proud to have partnered with Numet over the past several years. During our investment period, the Numet management team transformed the business from a components supplier to a value-added partner and trusted resource for its major customers. Significant investments in people, facilities and production equipment made Numet an attractive strategic asset for potential acquirers, and we think Bromford Industries is a great partner for Numet to continue on its growth trajectory."