ONTARIO, Calif., Jan. 25, 2023 /PRNewswire/ — Salt Creek Capital, a private equity firm based in Woodside, California, has acquired Broco, Inc., Rankin Industries, Inc., and Strong Welding Products – collectively known as Broco Rankin. Mr. Sterling Peloso has been named Broco Rankin’s new Chief Executive Officer.
For nearly three decades Broco Rankin was co-owned and managed by Richard “Rick” A. Ferry and Richard M. Ferry. In that time the company became a leading manufacturer of underwater and industrial cutting and welding equipment, forced entry and tactical breaching equipment for law enforcement and military, as well as hardfacing and protective metal alloy products.
“I am excited to join Broco Rankin. This is a great company with a solid foundation and a strong, experienced team. I am looking forward to working with the employees, clients and customers to continue the company legacy of quality and innovation that is well established,” said Mr. Peloso.
Mr. Peloso is an experienced executive having held senior leadership positions as President at Avante Ultrasound & Monitoring, CEO at Ultra Solutions, Senior Vice President at Aramark and CEO at Quartermaster. He earned an MBA from the Graziadio Business School at Pepperdine and a BBA from the University of San Diego.
“I am thrilled to have partnered with Salt Creek Capital to complete this transaction,” said Mr. Peloso. “We look forward to expanding Broco Rankin’s reach around the world in the near future.”
Broco Rankin is headquartered near Los Angeles in Ontario, California. Broco, Inc. was founded in 1968 and specializes in underwater cutting and welding products, and designs and manufactures tactical and forced entry products for law enforcement, military, and fire and rescue, and industrial exothermic cutting and welding systems. Rankin Hardfacing, PMA Protective Metal Alloys, and Chamberlain Security are part of Rankin Industries, founded in 1938, which designs and manufactures buildup, hardfacing, specialty nickel alloy products, and high security components for safes, containers and cabinets.
SOURCE Broco Rankin