Ontario-based Salford Farm Machinery Ltd., manufacturer of farm implements, recently announced its partnership with private equity firm, New York-based GenNx360 Capital Partners.
Salford currently serves North American and European markets from its facilities in Ontario and Iowa, and through a joint venture in Omsk, Russia. The company sells through more than 300 dealers and distributors in North America and internationally.
In a recent press release, Geof Gray, Salford president says,”We are excited to partner with GenNx360 in our next stage of growth…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, says Anson Boak, marketing manager with Salford, in the interview below. While GenNx360 is now a majority owner, it’s essentially business as usual for Salford. As Boak explains in this interview, there will be some investments in the Iowa manufacturing facility. This partnership is also GenNx360’s entrance into the agriculture market; expansion is certainly on the radar.
If you cannot see the embedded player, click here to hear the interview.