Nexus supplier SureGrip controls has a new owner - as its parent company Bailey International has been sold to EBSCO Capital.
And its new owners are confident that the sale will lead Bailey - and SureGrip - into a confident long-term future.
EBSCO Capital makes long-term investments in companies which have a competitive advantage which looks good for the future. It buys companies that value entrepreneuralism and growth, and that have a diverse customer base.
EBSCO takes pride in its long-term view - stating that owning businesses with good management teams over a long period of time is the best way to create value.
Bailey’s previous owners, Pfingsten, bought Bailey seven years ago, overseeing the acquisition of SureGrip four years ago.
“Pfingsten’s operating and financial resources enabled our business to grow dramatically,” said Bailey CEO Ken Baker. “Together, we built a better business with excellent systems, a broadened product offering and a diversified customer base.”
Scott Finegan, a managing director at Pfingsten, said: “Our strategy was to build a solutions-oriented supplier with broad product reach and flexible sourcing, manufacturing and distribution capabilities.
“Through organic growth and the acquisition of Sure Grip, Bailey established its market-leading position.”
Bailey acquired Suregrip in 2015, adding Suregrip’s enviable range of control grips, industrial joysticks, micro joysticks, and electronic driver boards to its product portfolio.
The acquisition opened up SureGrip’s markets in agricultural, construction, mining and off-road equipment, where the brand is known for its focus on reliability, durability and ruggedness.
SureGrip serves customers including John Deere, Caterpillar, Komatsu Forest and Oshkosh Defence.
“The Bailey team did an outstanding job managing a complex global supply chain and delivering value to its customer base,” said Denio Bolzan, a managing director at Pfingsten. “We are excited for Ken and his team as they lead the Bailey platform forward with EBSCO.”
Suregrip prides itself on the ability to adapt products to the exact needs of the customer - through customised handles, switches, LEDs, and faceplate overlays to match company branding. Thousands of button, switch and trigger combinations are available, and button identification and labelling can also be provided.
The company has twice received recognition as one of Canada’s top 200 fastest growing companies by Profit magazine, and it supplies markets including Europe, the US and New Zealand.
Picture shows Ken Baker, CEO of Bailey International (left) with David Walker, Chief Executive Officer of EBSCO Industries.