Ironwood Capital has made subordinated debt and equity investments in Tracked Lifts, the exclusive continental US distributor and supplier of Platform Basket and Ommelift (Omme) tracked multi-terrain man lifts (aka spider lifts) and trailer mounted aerial lifts used primarily in the tree care industry.
Alex Levental, partner at Ironwood Capital, says: “Our market research shows that Tracked Lifts’ core spider lift product represents a compelling value proposition for customers, including higher efficiency, enabling companies to service more jobs with less headcount amongst an ever-tightening labor market, as well as enhanced safety. The company already has a significant installed base of tree care companies that use their existing product line and will build on the multiple product and market expansion opportunities our research has identified.”
“We are excited about the near- and long-term growth potential for Tracked Lifts. This investment from Ironwood gives us the opportunity to grow our staff and systems capabilities,” says Jim Grande, incoming Tracked Lifts CEO. “These systemic improvements are critical as we expand into new markets.”
“We’re fortunate to be working with company founder Mike Hrycak, with what we believe is one of the best products in the industry. Partnering with Ironwood on this investment gives us additional tools and resources to establish very strategic growth initiatives to drive Tracked Lifts into a market leading position,” says Tim Buckman, managing partner of Tenaz Capital.