NEW YORK, May 11, 2015 /PRNewswire/ -- The Salford Group ("Salford"), a portfolio company of GenNx360 Capital Partners, acquired Valmar Airflo, Inc. ("Valmar") based in Elie, Manitoba on May 4, 2015.
The Valmar acquisition adds significant benefits and expertise to Salford, with an expanded product line that now includes: primary, secondary, and vertical tillage, air seeders, commodity carts, cover crop seeders, spinner-type fertilizer spreaders, air-boom applicators and granular applicators for fertilizer, insecticide, seed, seed inoculant and forage preservatives.
"We are thrilled to add Valmar to our family," stated Geof Gray, Chief Executive Officer of Salford. "This merger will allow us to offer a complete line of high quality seeding and granular application equipment to the grower and service provider." Gray also noted that he looked forward to seeing the combined strength and resulting synergies of the design teams at Valmar Airflo, BBI Spreaders and the Salford Air Cart division, as farmers would benefit from greater choice and fresh innovation.
Since 2007, interest in cover crop seeding among the farming community has expanded rapidly, and in response, Salford and Valmar have been steadily increasing their level of cooperation in order to offer farmers a flexible, effective cover crop application tool.
"This next step in our cooperation with Salford is very exciting for us," said Mercedes Caron, Valmar President. "Salford has the capital, additional core expertise and access to markets that will bring Valmar's existing product lines to more farms in North America and a greater global market."
"This acquisition, the second add-on completed since our investment in Salford, further strengthens the GenNx360 agricultural investment platform as Salford continues to extend its footprint and market presence through product and geographic expansion," said Matt Guenther, the GenNx360 Partner who led the transaction.
ABOUT GENNX360 CAPITAL PARTNERS
GenNx360 Capital Partners is a private equity firm who applies years of operational and leadership experience to investments in middle market industrial manufacturing and service companies. The Fund's differentiation is derived through an operationally-based culture where it brings Fortune 50 operating tools and experience to middle market companies. The Fund will employ a hands-on and value-build approach to invest in companies within the following industries: Aerospace & Defense, Automotive, Building Products, Food & Agriculture, Healthcare, Metals & Mining, Oil & Gas and Power, Packaging, Specialty Chemicals, and Transportation. GenNx360's target products and services include: Business Services, Flow Control & Automation, Food Processing Machinery & Equipment, Industrial Machinery, Logistics & Supply Chain Solutions, and Testing and Inspection Services. GenNx360 was founded in 2006 and is headquartered in New York City.
For more information about GenNx360, please visit: www.gennx360.com
Valmar is a leading manufacturer of seeding and granular application equipment for the agricultural industry. Founded in 1977, Valmar Airflo provides innovative equipment to the agricultural industry.
For more information about Valmar, please visit: www.valmar.com
Salford, founded in 1978, is one of North America's leading manufacturers of primary tillage, secondary tillage, seeding and fertilizer application equipment. Salford Group engineers its products to excel in the different soil and crop types throughout the agricultural world and to add value to any size farming operation. The organization manufactures in the USA, Canada, and Russia.
Salford Group is aggressively expanding and looking for qualified candidates in many of its departments and at several of its facilities, including sales and marketing positions, production personnel and production management.
For more information about Salford, please visit: www.salfordgroup.com
For media inquiries about this press release, please contact:
GenNx360 Capital Partners
Carmen Rojas, Investor Relations Manager
Tel: +1 212.257.6772
SOURCE GenNx360 Capital Partners