Iron Capital has brought on a strategic equity investment partner in Armitage Associates to continue to support and drive our ongoing growth.
There will be no change to Iron Capital’s business operations as a result of Armitage’s investment. Iron Capital’s founding Directors continue to be responsible for day-to-day operations and remain major shareholders of the business alongside Armitage. Jim Cock, previously Managing Director of GE Fleet and Equipment Finance, has joined Iron Capital as chairman as part of the transaction.
Iron Capital Managing Director Paul Ireland said “We are excited to have the financial backing of Armitage to continue to expand our business. We are seeing significant demand within the civil, transport and mining markets for Iron Capital rent to purchase product, and we are investing in additional business resources to continue to support the growth of our clients”.
Mark De Ambrosis, Managing Director of Armitage Associates, said “This is a fantastic example of the Armitage model – partnering with leading operators in a growing industrial end market to provide capital and support for ongoing growth”.
Armitage Associates is a growth equity firm established with the support of the Melbourne-based Schwartz family. Armitage’s investments focus on providing capital and management support to small and medium sized businesses in Australia.
Armitage looks to partner with management to assist in growing their company providing equity capital for growth. Armitage is fortunate to have long-term patient capital and adopts a long-term investment approach.