Graycliff on the Rise with Buy of Ballymore

Graycliff Partners has acquired Ballymore, a manufacturer of safety-centric equipment used by retailers, OEMs, and distribution customers, from Osage Partners.

Ballymore was founded in by John Colgan in 1945 as a manufacturer of rolling ladders. Today, the company is a maker of steel, aluminum, and stainless steel electric lifts, ladders, work platforms, portable loading docks, and other related material handling equipment.

Ballymore’s products are sold through more than 1,800 industrial products distributors. The company, led by CEO Bill Frame, is headquartered near Philadelphia in Coatesville, Pennsylvania.

“We are thrilled to embark on the next phase of growth with Graycliff as our financial and strategic partner,” said Mr. Frame. “Graycliff’s support will be integral as we continue to expand our product line and cement our position as the go-to provider of safety products for our customers.”

“Ballymore has an impressive history of innovation and a strong reputation as a pioneer in safety products,” said Brandon Martindale, a managing director of Graycliff. “We are excited to partner with Bill and the rest of the Ballymore team to grow the business both organically and through acquisition while continuing the focus on safety, quality and partnership that sets the company apart.”

New York City-based Graycliff invests from $10 million to $50 million of control equity in companies with revenues of $10 million to $200 million and EBITDA of $4 million to $20 million. Sectors of interest include niche manufacturing, business services, and value-added distribution.

The buy of Ballymore is Graycliff’s second investment for its fourth private equity fund, Graycliff Private Equity Partners IV LP, which closed at its $350 million hard cap in December 2019. The firm was formed in December 2011 by the former investment team of HSBC Capital.

Fairmount Partners was the financial advisor to Ballymore on this transaction.

© 2021 Private Equity Professional | February 11, 2021

Print Friendly, PDF & Email