Salt Creek Capital Acquires Broco, Inc., Rankin Industries, Inc. and Strong Welding Products, Inc.
Jan. 11, 2023
Woodside, California (January 11, 2023) – Salt Creek Capital is pleased to announce the acquisition of Broco, Inc., Rankin Industries, Inc., and Strong Welding Products, Inc. (collectively, “Broco Rankin” or the “Company). Headquartered in Ontario, CA, Broco Rankin is a leading manufacturer of tools and equipment for underwater cutting and welding, law enforcement and military tactical breaching and rescue, industrial cutting and hardfacing, and protective metal alloys.
Richard “Rick” A. Ferry and Richard M. Ferry, owners of Broco Rankin, jointly stated “It has been our great pleasure over the last three decades to build Broco Rankin into the business it is today. We look forward to seeing Sterling Peloso and the Salt Creek Capital team continue to grow the business and lead it through its next stage of growth.”
Sterling Peloso, incoming CEO, stated, “I am thrilled to have partnered with Salt Creek Capital to complete this transaction. Broco Rankin has an exciting future ahead of it, and I look forward to working with our employees, distribution partners and customers to build upon the great legacy created by Rick and Richard.”
Tyler Romrell, Salt Creek Capital Vice President, added, “Rick and Richard are exceptional entrepreneurs who built a great business. Broco Rankin is an established leader in the underwater cutting and welding space with a diverse global network of customers. We look forward to working alongside Sterling and the team to continue innovating and expanding the Broco Rankin platform.”
Broco Rankin was advised on the transaction by Shoreline Partners, LLC (www.shoreline.com).
About Broco Rankin
Broco, Inc., established in 1968, is the market leader in underwater cutting and welding tools. Rankin Industries, Inc., established in 1938, has grown into a market leading manufacturer of hardfacing products, specialty alloys, and security cabinets & containers. The Company also manufactures a variety of other products for use in welding, cutting, hardfacing, and security purposes. For more information, visit www.broco-rankin.com.
About Salt Creek Capital
Salt Creek Capital is a San Francisco Bay Area-based private equity firm that partners with experienced operating executives to acquire profitable companies with $5 million - $150 million in revenue. Salt Creek Capital takes a long-term approach to investing in lower middle market businesses and seeks to create value by working closely with management teams to accelerate growth and improve operating efficiencies. For more information, please contact Tyler Romrell at firstname.lastname@example.org or visit www.saltcreekcap.com.