Pfingsten Partners, L.L.C. , Chicago, has announced that its portfolio company, Bailey International, L.L.C. has acquired Sure Grip Controls Inc., Saanichton BC.
Sure Grip is a designer and manufacturer of joysticks, control grips and controllers for use on forestry, construction and other mobile hydraulic equipment. The company sells a broad product portfolio with over 1,200 SKUs to a diverse customer base of OEMs and distributors.
“Our experienced team, with Bailey’s operational and strategic expertise, will allow Sure Grip to take full advantage of opportunities in the marketplace,” said Brent Kornelson, founder and chief executive officer, Sure Grip. “We are excited about the next step in our journey and have the right partner to help us accelerate Sure Grip’s growth.” “Sure Grip is an outstanding business with a leading brand name in mobile hydraulics. They combine innovative design, quality products and high levels of service to deliver a total customer solution,” adds Ken Baker, chief operating officer, Bailey Intl.
This is Bailey’s first strategic acquisition since Pfingsten became the majority shareholder in April 2012. The transaction was completed on February 2, 2015.
“The acquisition of Sure Grip adds strength in the controller and human interface elements of electro-hydraulic systems and strongly supports our strategy for full systems designs for our customers,” says Kevin Bailey, chief executive officer, Bailey.