22NW Fund, LP: Activist Profile

22NW is a specialist microcap investment firm founded in 2015 and based in Seattle, WA. The firm runs a constrained strategy designed to capture structural mispricings and elevated performance dispersion in the microcap space. Aron English is the founder of 22NW. He is supported by five research

analysts and two operations professionals with microcap know-how.

Aron English is the founder of 22NW. He is supported by five research analysts and two operations professionals with microcap know-how.

Letters & Presentations

Dirtt Environmental Solutions Ltd 18-Nov-2021 Letter

Dirtt Environmental Solutions Ltd 29-Mar-2022 Presentation

Dirtt Environmental Solutions Ltd 8-Apr-2022 Presentation

Active 13D Positions

Stock	Company name	Sector	% of Portfolio	Link
CULP	Culp Inc	Consumer Discretionary	8.8%	Link
FARM	Farmer Bros Co	Consumer Staples	3.3%	Link
LFCR	Lifecore Biomedical Inc	Materials	19.8%	Link
FSTR	L B Foster Co	Industrials	22.5%	Link

Past Activist

Dirtt Environmental Solutions Ltd (DRTT)

On April 26, 2022, shareholders elected 22NW's entire slate to DIRTT's Board of Directors, marking a significant shift in leadership. On Mar 22, 2024, they signed a Support Agreement with DIRTT, nominating Aron R. English for the Board and agreeing to support Board recommendations, with exceptions. 

Performant Financial Corporation (PFMT)

On February 27, 2020, 22NW GP publicly released a letter initially delivered to the Board on February 24, 2020, to comply with a non-disclosure agreement and cleanse itself of material non-public information about the Company.