Denver, CO – February 6, 2025 – Iron Woman, a leading provider of civil, utilities, environmental, and mining services, today announced the recapitalization of a portion of its business (the “transaction” or “recapitalization”) with private investment firm, Green Heron Partners (“Green Heron” or “GHP”). This transaction will provide the company with the financial resources and strategic support to position Iron Woman for long-term, sustainable growth.
As part of the deal, GHP will acquire a majority ownership position in both QP Services (“QP”) and Iron Woman Logistics Services (“IW Logistics”), while Shaun Egan, founder and CEO of Iron Woman, will remain an executive and significant owner of these companies. Mr. Egan will retain full ownership of Iron Woman’s civil/utilities, environmental, and mining services divisions.
This recapitalization achieves several key objectives for Iron Woman, providing (i) shareholder liquidity, (ii) a well-capitalized balance sheet for future growth, and (iii) the opportunity to partner with a firm experienced in scaling similar businesses. GHP’s investment marks an exciting new chapter for the company, offering the opportunity to expand the geographic reach and service offerings of QP and IW Logistics.
“Our partnership with Green Heron is an excellent opportunity for us to continue focusing on our core products and services while enhancing the capabilities of QP Services and IW Logistics,” said Shaun Egan. “With Green Heron’s experience and expertise, we’re confident we can enter new markets and bring on new service lines through organic initiatives and opportunistic acquisitions. This investment not only strengthens our financial profile but also provides us with the means to reinvest in our people, equipment, and future.”
“QP Services and IW Logistics play a pivotal role in ensuring the operability of critical infrastructure across a number of asset classes,” says Houston Johnson, Managing Partner of Green Heron Partners. “We feel fortunate to partner with a best-in-class management team and look forward to supporting them in the execution of our jointly identified growth and value creation initiatives.”
The recapitalization allows Iron Woman to achieve greater operational flexibility and invest in critical resources, including heavy machinery, trucks, and workforce development. With a clear focus on sustainable growth, the company is poised for continued success and innovation in its service offerings across multiple industries.
About Iron Woman
Iron Woman is a leading provider of comprehensive services in civil, utilities, environmental, and mining sectors. Known for its commitment to excellence and innovation, Iron Woman delivers high-quality solutions that meet the unique needs of its clients.
About QP Services
QP Services is a leading provider of inspection, repair, and maintenance services for critical water infrastructure for a mix of public and private customers across the Mountain West.
About Iron Woman Logistics Services
Iron Woman Logistics Services is a leader in aggregates management, transportation services, asphalt patching, and material handling for the civil and water infrastructure end markets. IW Logistics is also a value-added provider of solid waste and recycling services to a blue-chip customer base.
About Green Heron Partners
Green Heron Partners is a Texas-based private equity firm focused on providing capital and partnership to founder- and family-owned businesses. The Firm’s principals have completed over 25 investments, deploying more than $900 million in capital throughout their careers. GHP serves as a true partner to the companies and business owners with whom the Firm invests, providing capital as well as strategic support and resources to execute on jointly identified value creation initiatives.