Iron Path Capital, an investor in the healthcare and specialty industrial sectors, has appointed Ian Thomas as Managing Director – Head of Business Development. In his new role, Mr. Thomas will oversee deal origination and business development for the firm and its portfolio companies.
Before joining Iron Path, Mr. Thomas founded Aliri Capital, which focused on investing in family-owned service businesses with EBITDA between $2 million and $15 million. From 2021 to 2023, he served as a managing director at Sole Source Capital, leading deal origination efforts. Earlier in his career, from 2011 to 2021, he was with Harris Williams, where he advised on buy-side and sell-side transactions across sectors such as industrial automation, value-added distribution, and tech-enabled services. Mr. Thomas holds an MBA from the University of Virginia and an undergraduate degree from North Carolina.
“Ian’s track record makes him a valuable addition to our team, and he will play a key role in our continued growth, momentum, and portfolio company success,” said Scott Mraz, a co-founder and managing partner of Iron Path.
“Iron Path has an exceptional team delivering differentiation in the market, and I look forward to our work together,” said Mr. Thomas. “I’m eager to help shape the future and deliver value to our investors, founders, and our portfolio companies.”
In June 2024, Iron Path held a final and above target closing of its inaugural fund, Iron Path Capital Fund I LP, with $273 million of capital commitments. Limited partners in Fund I include a group of global investors including leading endowments, fund of funds, institutional investors and family offices.
Iron Path invests in healthcare and specialty industrial companies that produce products and components used in life sciences, pharmaceuticals, and industrial applications. In August 2023, Iron Path established PureTech Scientific to acquire the glycolic acid business of Chemours Company for $137 million in cash. This business specializes in ultra-high-purity alpha hydroxy acids used in life sciences, skincare, and industrial processes, including metal cleaning, pH adjustment, and drug delivery systems that enhance medication absorption.
Iron Path operates from offices in Nashville, Tennessee, and Charlottesville, Virginia.
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