Less than a year after exiting Chapter 11, the Madison-based maker of wood-fiber insulation landed backing from New York-based FTAI Infrastructure.
Less than a year after
emerging from Chapter 11, TimberHP has secured a strategic investor from a major infrastructure company to power its next growth chapter.
The Madison-based maker of wood-fiber insulation landed backing from FTAI Infrastructure (Nasdaq: FIP), a New York-based company managed by Fortress Investment Group.
TimberHP declined to disclose the size of the stake or how the deal came about.
Matthew O’Malia, TimberHP's president and CEO, called the partnership a “pivotal moment" for the company, which he co-founded in 2017 with Joshua Henry. Today, the manufacturer employs around 75 people, according to O'Malia.
“The investment supports TimberHP’s commercial expansion in response to growing demand for cost-effective, low-carbon building materials,” he said in an email response to Mainebiz.
Asked about the current state of finances, O’Malia said the company “is well capitalized following the investment, with a strengthened balance sheet to support ongoing operations and growth.”
'Measured growth'
On hiring, O'Malia said the company expects “measured growth in headcount,” with a focus on operations and manufacturing roles.
O'Malia also left the door open for further deals.
“We regularly evaluate financing options and strategic partnerships to support our strategy, but we’re not commenting on any potential future transitions at this time,” he said.
O’Malia and Henry were honored as Mainebiz Business Leaders of the Year in
2024.
