Press Release
Gridiron Capital Acquires Ramsey Industries, Inc.
NEW CANAAN, Conn., April, 2007 — Gridiron Capital, LLC has acquired Tulsa, Oklahoma headquartered Ramsey Industries, Inc. in partnership with management. Ramsey Industries, Inc. is a designer, manufacturer and marketer of winches, cranes and related products for sale to distributors and original equipment manufacturers (“OEMs”) worldwide.
“As the industry leader in telescopic cranes and crane service bodies, as well as winches used in towing and recovery applications, Ramsey Industries fits Gridiron’s overall strategy of investing in industry-leading businesses where we can help drive significant growth,” said Gridiron Capital Managing Partner Tom Burger. “Ramsey represents an exciting platform investment with multiple growth opportunities. Gridiron Capital is highly committed to supporting growth initiatives with human and capital resources, and we are very pleased to be partnering with the Ramsey management team,” added Gridiron Capital Managing Director Tim Clark.
“We are very excited about our partnership with Gridiron Capital. We see substantial opportunities for growth in our core markets at both Auto Crane and Ramsey Winch, and the resources that Gridiron brings to the organization will help us achieve that growth,” commented Bruce Barron, CEO of Ramsey Industries. “We also share similar philosophies on the importance of our people to the success of our company. We think this is a powerful combination that will accelerate our growth into the foreseeable future.”
Founded in 1944 in Tulsa, Ramsey Industries is comprised of two subsidiaries (i) Auto Crane and (ii) Ramsey Winch. 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 and www.autocrane.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.