EBSCO Capital announces the acquisition of Bailey International ("Bailey"), an industry leader in the manufacturing and distribution of mobile hydraulic power solutions, headquartered in Knoxville, TN.
"A strong market position; complementary sourcing, manufacturing, and distribution capabilities; a multi-channel sales approach serving a diverse customer base; a deep-rooted commitment to customer service; and a proven and talented team made Bailey an ideal acquisition for EBSCO Industries," said Nathan Bouknight, Managing Director of EBSCO Capital.
For over forty years, Bailey has served a diverse group of mobile equipment OEMs, distributors and aftermarket customers - providing a broad range of hydraulic and electro-hydraulic components under the Bailey, Chief, Maxim, and SureGrip brand names. With a product selection of more than 5,000 standard items, Bailey serves a diverse range of customers in transportation, agriculture, construction, and other mobile hydraulic end markets.
"I cannot imagine a better partner than EBSCO," said Bailey's CEO, Ken Baker. "Their track record of acquiring and organically growing strong and durable businesses, commitment to our growth strategy, significant capital position, long-term point-of-view, shared values in excellent customer service, and thriving entrepreneurial culture make this transition even more exciting. The Bailey team and I look forward to the even stronger company we will create together with EBSCO."
Bradley Arant Boult Cummings served as legal advisor to EBSCO Capital.
About EBSCO Industries, Inc.
Founded in 1944 by the late Elton B. Stephens, EBSCO Industries, Inc. has evolved into a global company with businesses in a range of industries including Information Services, Outdoor Products, Real Estate, Manufacturing and Distribution, and Business Services. Headquartered in Birmingham, Ala., EBSCO operates divisions and subsidiaries in 23 countries employing over 5,000 people. EBSCO Information Services, the largest of all EBSCO businesses, is the leading provider of discovery services, databases, and other information resources for libraries worldwide. For a complete listing of EBSCO's business groups, please visit www.ebscoind.com.
About EBSCO Capital
An affiliate to EBSCO Industries, EBSCO Capital seeks to make long-term, control investments in quality, privately held, middle-market companies which share common values in growth and entrepreneurialism. With $300 million in committed equity capital, EBSCO Capital is actively seeking new platforms and companies in the information services, healthcare, distribution, software-as-a-service, commercial furniture, wealth management, specialty insurance, and consumer products sectors. www.ebscocapital.com.