SALSCO Joins Forces with Foley Company in Strategic Acquisition
Deal News | Nov 12, 2024 | EIN
SALSCO, Inc., a leader in turf maintenance equipment, has been acquired by Foley Company, which specializes in shop tools for the golf and turf industry, as announced by Osage Advisors, a Connecticut-based M&A firm. SALSCO, founded in 1979 by Sal Rizzo, designs and manufactures its products in-house at its Cheshire, CT, facility, and employs over 70 individuals. With an extensive line that includes equipment for golf courses, landscaping, and grounds maintenance, this acquisition allows SALSCO to align with Foley Company, a trusted partner in the golf industry since 1926. Together, they aim to leverage their combined resources to offer superior solutions for turf professionals. Keith Dee, Managing Partner at Osage Advisors, and Sal Rizzo, Founder of SALSCO, both expressed optimism about the future prospects that this strategic partnership presents. Osage Advisors, with its expertise across multiple industries, facilitated this transaction ensuring alignment with the growth strategy for SALSCO.
Sectors
- Mergers and Acquisitions
- Turf and Landscaping Equipment
- Golf Industry
Geography
- United States – The headquarters of SALSCO is in Cheshire, CT, and Osage Advisors is Connecticut-based. Additionally, Foley Company operates within the U.S.
Industry
- Mergers and Acquisitions – The article discusses the acquisition of SALSCO, Inc. by Foley Company, facilitated by Osage Advisors, a mergers and acquisitions firm.
- Turf and Landscaping Equipment – SALSCO, Inc. is a leading provider of turf maintenance equipment and Foley Company specializes in shop tools for the golf and turf industry.
- Golf Industry – Both SALSCO and Foley Company operate within the golf sector, providing equipment and tools used in golf course maintenance.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| SALSCO, Inc. | Target Company | Company | A leader in the design and manufacture of turf maintenance equipment, founded by Sal Rizzo in 1979. |
| Foley Company | Bidding Company | Company | A leading provider of high-quality shop tools for the golf and turf industry, established in 1926. |
| Osage Advisors | M&A Advisor | Company | A Connecticut-based mergers and acquisitions firm specializing in facilitating transactions for family and closely-held businesses. |
| Sal Rizzo | Founder of SALSCO | Person | Founder of SALSCO, Inc. |
| Keith Dee | Managing Partner at Osage Advisors | Person | Managing Partner who expressed confidence in the successful outcome of the acquisition. |