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Libra Industries secures investment from Ironwood Capital

Middle-market investor Ironwood Capital Ltd. provided subordinated debt and equity to electronic manufacturing services provider Libra Industries Inc.

Libra makes engineered printed circuit board assemblies, electromechanical assemblies and electronic control solutions for the industrial automation, medical, military, aerospace, instrumentation and LED lighting industries.

The Mentor, Ohio-based company will use the funding to pursue large product programs and achieve sales growth, Libra founder and CEO Rod Howell said in a news release.

Libra received a majority investment from CapitalWorks LLC. The Cleveland-based private equity firm partnered with Howell, the Howell family and Libra's management team on the investment.

CIBC provided senior financing. CapitalWorks was advised by Benesch Friedlander Coplan & Aronoff on the deal.