Jeff Mordock

The News Journal

Wilmington-based Iron Hill Brewery & Restaurant is partnering with private equity firm A&M Capital Opportunities to fuel the chain's expansion into new markets, the company announced.

The undisclosed investment from A&M Capital of Greenwich, Connecticut, will enable 20-year-old Iron Hill to open new locations from New England to North Carolina with initial expansion in New Jersey and Maryland.

Iron Hill is scheduled to open its 12th restaurant in Huntington Valley, Pennsylvania, this summer. The current 11 locations are in southeastern Pennsylvania and Delaware, including one at the Wilmington Riverfront.

As a result of A&M Capital's investment, the firm's co-founders Drew Baird and Paul Lattanzio will join Iron Hill's board of directors.

"The Iron Hill brand is uniquely positioned to appeal to a very broad customer base," Baird said in a statement. "We plant to expand so even more communities have the opportunity to experience all that Iron Hill has to offer."

Iron Hill has won 44 medals at the Great American Beer Festival, an annual event sponsored by the Brewers Association trade group, and the restaurant has been named a "World Champion Brewpub" three times at the biennial World Beer Cup international competition.

The agreement is the latest in a growing trend of craft beer makers partnering with other firms to fuel growth. Victory Brewing Co. announced earlier this month it was under new ownership, a move company leaders said would provide provide stability as the restaurant expands. Lagunitas Brewing Co. also secured a big financial partner, teaming with Heineken.

Contact Jeff Mordock at (302) 324-2786, on Twitter @JeffMordockTNJ or jmordock@delawareonline.com.