Linamar Corp. has bought Salford Group, a manufacturer of tillage and crop nutrition application equipment, from GenNx360 Capital Partners for $260 million.
Salford Group is headquartered in Ontario and has three manufacturing locations in Canada and two in the U.S. The Salford Group has a product lineup that includes pneumatic and spinner-type fertilizer spreaders, Air Flow applicators and Tillage product lines. The firm leverages technological developments in precision agriculture to help producers manage crop production.
Linamar Corp. is an advanced manufacturing company where technology and deep manufacturing expertise combine to create services that power vehicles, motion, work and lives for the future.
“The success of our investment in Salford demonstrates GenNx360’s ability to execute on our investment strategy to substantially increase the Company’s revenue and profitability through synergistic acquisitions, operational efficiencies, and an unyielding commitment to customer service,” said Lloyd Trotter, a managing partner of GenNx360. “We are excited that this exit positions Salford for continued success, while also generating an attractive return for GenNx360’s Limited Partners.”
Winston & Strawn, McCarthy Tétrault, and Siskinds acted as legal counsel to Salford. Lincoln International served as the exclusive financial advisor to Salford on this transaction.