GenNx360 Capital Partners, a private equity firm focused on investing in middle market industrial business-to-business companies, has acquired Salford Farm Machinery Ltd. (Salford) for an undisclosed amount.
Salford is a Canada-based manufacturer of tillage, seeding and fertilizing equipment for the global marketplace. Salford currently serves the North American and European markets from its facilities in Ontario, Canada, Iowa in the U.S., and through a joint venture in Omsk, Russia. The company sells through more than 300 dealers and distributors in North America.
With a 30-plus-year operating history, the company it touted as having a reputation for innovation and superior product performance. Durable and highly engineered, Salford's patented tillage products offer the highest performance in all conditions, leading to increased farmer profitability, the company claims. Innovation is displayed in the company's latest 'Independent Series' tillage products.
Matt Guenther, a partner with GenNx360, said, "We believe Salford, with its strong brand, patented technology and established dealer network, is well positioned to benefit from the growth in the tillage market. We expect to build on Salford's strengths by leveraging our operational expertise and executing on identified growth opportunities, both organically and through add-on acquisitions."
GenNx360 was founded in 2006 and is headquartered in New York City, with additional offices in Seattle and Boston.
Salford was founded in 1978 with manufacturing of non-powered farm implements, including primary tillage, secondary tillage, seeding and fertilizing equipment. Today it has more than 180,000 square feet of "manufacturing footprint across North America and Russia.