Salford Farm Machinery Ltd., a global manufacturer of farm implements, has partnered with GenNx360 Capital Partners, a private equity firm focused on investing in middle market agriculture and industrial business-to-business companies. Salford is now positioned to continue its strong growth in the global agricultural marketplace.
Salford, based in Canada, is a manufacturer of tillage, seeding and fertilizing equipment for the global marketplace. Salford currently serves North American and European markets from its facilities in Canada (Ontario), the U.S. (Iowa) and a joint venture in Russia (Omsk). The company sells through more than 300 dealers and distributors in North America and internationally.
"We are excited to partner with GenNx360 in our next stage of growth," says Geof Gray, Salford's president. "In GenNx360 we found an investor interested in continuing to grow the Salford brand and maintain the core principles that have made us successful. We are certain that GenNx360's vast manufacturing expertise and the operational capabilities of its partners will help us develop even more technologically advanced tillage and seeding equipment that provides the greatest benefit to the grower, while improving our speed and efficiency when delivering products to our dealers and distributors."
Salford's current operations will continue uninterrupted from its existing headquarters with its entire workforce remaining in place.
"At GenNx360, we strongly believe in the megatrends that drive agribusiness. Farm businesses are striving for higher productivity and crop yields to feed an increasing global population," says Matt Guenther, a partner with GenNx360. "We believe Salford, with its strong brand, patented technology and established dealer network, is well positioned to help existing and future generations of farmers succeed in an industry that is focused on growth, productivity and improving sustainability. 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."
Salford, founded in 1978, is one of North America's leading manufacturers of non-powered farm implements, including primary tillage, secondary tillage, seeding and fertilizing equipment. With over 180,000 square feet of manufacturing space across Canada, the USA and Russia, Salford designs, manufactures and assembles farm equipment. Salford engineers its products to excel in different soil and crop types throughout the agricultural world. Salford's 'Independent Series' product line is well known for its superior product design and agronomic performance.
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on investing in industrial business-to-business companies in the middle market. It applies years of Fortune 50 operational and leadership experience to these investments to help drive growth and value creation. The firm primarily focuses on opportunities in the industrial machinery and components, oil and gas, transportation and logistics, agricultural, specialty chemicals, and aerospace sectors. GenNx360 was founded in 2006 and is headquartered in New York City, with additional offices in Seattle and Boston.