Salford is a manufacturer of primary tillage, secondary tillage, seeding and fertilizer application equipment. The company has manufacturing facilities in the US, Canada, and Russia. Salford was founded in 1978 by Jake Rozendaal and is headquartered southwest of Toronto in Salford, ON (www.salfordgroup.com).
GenNx360 Partners acquired Salford in 2013 and the buy of AerWay is Salford’s third acquisition in the past 14 months. In 2014, Salford acquired BBI Spreaders and in 2015 acquired Valmar Airflo. According to GenNx360, the AerWay acquisition expands Salford’s niche tillage product lineup to offer more vertical tillage and pastureland management tools that appeal to livestock and mixed farming customers.
“This transaction is our third add-on acquisition, further enhancing GenNx360’s commitment to and investment in the Salford platform,” said Matt Guenther, the GenNx360 Partner who led the transaction.
With close proximity to Salford’s Ontario headquarters, AerWay will continue to produce equipment in its Norwich, Ontario facility. “We are very pleased to bring AerWay products under the Salford tillage umbrella,” said Geof Gray, CEO of Salford Group. “Both companies focus on innovative designs to meet customer needs, create tools with multi-use capabilities and emphasize soil productivity and management, with vertical tillage/minimal disturbance tools and topdressing or cover cropping being an important part of that.”
GenNx360 is a private equity firm focused on investing in industrial business-to-business companies in the middle market. Sectors of interest include aerospace & defense; automotive; building products; food & agriculture; healthcare; metals & mining; oil & gas and power; packaging, specialty chemicals; and transportation. GenNx360 was founded in 2006 and is headquartered in New York (www.gennx360.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 12-21-15