Salford Group, a portfolio company of GenNx360 Capital Partners, has acquired BBI Spreaders, a manufacturer of dry material applicators used in the agriculture, construction, and golf sectors.
“This acquisition represents the latest step towards aggressively expanding Salford’s market presence through product and geographic expansion. We are very excited to support Salford in this acquisition and look forward to continuing to grow the company,” said Matt Guenther, Partner at GenNx360.
BBI Spreaders is a designer, manufacturer and marketer of granular material application equipment sold to the agriculture, construction, and golf sectors. The company is headquartered northeast of Atlanta in Cornelia, GA (www.bbispreaders.com).
Salford Group, acquired by GenNx360 in December 2013, designs and manufactures tillage, seeding and fertilizing equipment for the agricultural industry. Salford sells its products to farmers through a global dealer network. The company also serves European markets as part of a joint venture in Russia. The company was founded in 1978 and is based southwest of Toronto in Salford, ON (www.salfordmachine.com).
Salford’s and BBI’s equipment lines are complementary to one another and the combination of the two companies will allow each business to reach new markets. In addition to the larger product offering, both companies gain access to new sales territories and will strengthen their network of hundreds of farm equipment dealerships across the United States, Canada and overseas. According to Geof Gray, the President of Salford, “BBI is a great fit for us because they come to the market with the same philosophy as Salford, which is to create simple, durable equipment with innovations that improve the profitability of farm businesses. By adding the strengths and expertise of BBI to Salford, we’ll be able to offer even more innovative products that improve productivity of field operations,” he said.
GenNx360 Capital Partners is a private equity firm focused on investing in industrial business-to-business companies in the middle market. Sectors of interest include industrial machinery and components, oil and gas, logistics and supply chain management, agricultural, specialty chemicals, and aerospace sectors. GenNx360 was founded in 2006 and is headquartered in New York with additional offices in Seattle and Boston (www.gennx360.com).
2014 PEPD • Private Equity’s Leading News Magazine • 10-17-14
