Northstar invests in manufacturer IronCraft

IronCraft is a maker of agricultural implements and attachments for use primarily on tractors, skid steer loaders, and compact track loaders.

  • Founded in 2014, IronCraft is headquartered in Decatur, Tennessee
  • Since inception, Northstar has partnered with more than 155 companies and raised nearly $2 billion in capital
  • LFT targets U.S.-based lower middle market manufacturing and industrial services companies

Northstar Capital has made an investment in IronCraft, a portfolio company of LFM Capital. No financial terms were disclosed.

Founded in 2014, IronCraft is a maker of agricultural implements and attachments for use primarily on tractors, skid steer loaders, and compact track loaders. IronCraft’s products are sold through the company’s dealer network spanning more than 40 states. IronCraft, formerly branded as Titan Implement, is headquartered in Decatur, Tennessee and offers an extensive range of rotary cutters, rotary tillers, box blade scrapers, grader blades, landscape rakes, disc harrows, and skid steer attachments.

Northstar provided debt and an equity co-investment to help LFM finance the transaction. IronCraft is the seventeenth platform investment in Fund VII, a $500 million committed parallel fund strategy consisting of Northstar Mezzanine Partners VII L.P. and Northstar Mezzanine Partners SB.IC L.P.

Northstar Capital is an investment management company with offices in Minneapolis, Minnesota and Fargo, North Dakota. Northstar specializes in junior capital investments and equity co-investments in middle-market companies. Since inception, Northstar has partnered with more than 155 companies and raised nearly $2 billion in capital.

LFM is a private equity firm based in Nashville, Tennessee. LFM targets lead or control investments in U.S.-based lower middle market manufacturing and industrial services companies with at least $3 million of EBITDA and enterprise values ranging from $15 million to $125 million.