Salt Creek Capital, the San Francisco Bay-Area private equity firm that purchased Griplock Systems in 2016, has completed its acquisition of the Nevada-based cable suspension company Cable Grippers, Inc. and will merge the two companies into one powerhouse cable suspension company.
“We’re very excited to be joining forces with Cable Grippers,” states Griplock Systems President and CEO Todd Hemingway. “With our combined efforts we will be in a better position to navigate the ever-changing industry landscape and provide stronger service to our customers. Griplock Systems is a leader in cable suspension in many different industries because we offer the best and safest products at the best price, and that has allowed us to continue to grow. By adding Cable Grippers, we will increase our reach in the lighting market.”
For the time being, the two companies will continue to operate as normal, as the merging process is expected to take anywhere from eight months to a year.
“We don’t want to rush things,” states Ryan Kwast, Griplock VP of Sales and Engineering. “There are a lot of logistical items that we need to take care of before the two companies can truly operate as one. For instance, there are hundreds of parts from both companies that are near duplicates of each other. We need to assess which parts are the best value for our customers, regarding price and quality, and retire those that don’t make the cut. We want to make this as smooth of a process as possible for all our customers.”
