Investment Money | Avon Investment Firm Puts $7.1 Million Into New Haven Linen Factory

An Avon-based investment organisation is putting $7.1 million in to a linen assembly lines to sustain 72 workers at its New Haven facility.

Advantage Capital Partners, a project funds and small-business financial firm, partnered with Avon-based Ironwood Capital to supply the investment money to New England Supply Company Inc., that is a retailer of uniforms,

linen and textiles to food-service services and restaurants. The New Haven-headquartered firm has operations in New Jersey and operates from Boston to Philadelphia.

“New England Linen Supply is a timeless firm with gifted administration and workforce,” mentioned Marc Reich, boss of Ironwood Capital. “We are gratified to supply indispensable appropriation to sustain stream operations and jobs and erect a stage for future expansion in Connecticut. Our investment in this firm would not have been probable without the Insurance Reinvestment Fund Program, that is administered by the (state) Department of Economic and Community Development.”

Gov. Dannel P. Malloy said, “The role of the Insurance Reinvestment Fund Program is to kindle mercantile development by providing a source of funds that supports work origination and retention, whilst moreover enhancing the investment weather in the state. we am committed to formulating jobs in Connecticut and this financing for New England Linen Supply Company is many of course a acquire step in the correct direction.”