Tulsa, OK (1/30/2008)–
Ramsey Industries, Inc. (“Ramsey”)
announced today the acquisition of Eskridge,
Inc. (“Eskridge”) of Olathe, KS.
Eskridge is a leading designer, manufacturer
and marketer of planetary gear drives, auger
drives and multiple-disc brakes for sale to
distributors and original equipment manufacturers
(“OEMs”).
“We are very excited to
announce the addition of Eskridge to the Ramsey
Industries family. Our vision is to become a
global leader in all of the markets we serve
by providing innovative solutions to our customer’s
requirements with high quality, on-time and
cost effective products. The acquisition of
Eskridge brings us one step closer to the accomplishment
of that goal. This combination will increase
the offering of products to our valued customers
around the globe and will also allow us to offer
them full package solutions to their growing
needs” commented Bruce Barron, CEO of
Ramsey Industries.
“The acquisition of Eskridge
is a highly complimentary strategic fit for
Ramsey, and is consistent with the Ramsey platform
acquisition strategy,” said Gridiron Capital
Managing Director, Tim Clark. “The two
companies have very little overlap from a product
line standpoint, and significant opportunities
exist to leverage the distribution strengths
of both companies by joining forces” added
Gridiron Principal, Geoff Spillane.
Founded in 1944 in Tulsa, Ramsey
Industries is comprised of two subsidiaries
(i) Auto Crane and (ii) Ramsey Winch. Eskridge
will now form a third subsidiary based in Kansas
City. Under the Auto Crane brand, the company
provides a comprehensive line of truck-mounted
telescopic cranes, crane service bodies and
accessories. Under the Ramsey Winch brand, the
company offers a broad range of industrial and
consumer winches. Products are sold through
a network of truck equipment dealers and OEMs
to a diverse group of end-user markets including
non-residential construction, oil and gas, towing
and recovery, municipal, mining and energy/utilities.
Additional information about the company may
be found at www.ramsey.com
, www.autocrane.com
and www.eskridgeinc.com.
Gridiron Capital, LLC, headquartered
in New Canaan, Connecticut, is a private equity
firm focused on creating value by acquiring
and building middle-market manufacturing, service
and specialty consumer companies in the United
States and Canada. The firm’s principals
have historically achieved superior investment
returns by employing a combination of strategic,
operating and financial experience to provide
portfolio companies with competitive advantages.
Gridiron’s principals work closely with
management teams to develop strategies for portfolio
companies, as well as providing resources to
execute business plans and build industry-leading
companies. Additional information about Gridiron
is available on the firm’s website at
www.gridironcapital.com.
www.
ramsey.com
PO Box 581510
Tulsa, OK 74158
818 438-2760
