Salter Housewares
Encyclopedia
Salter Housewares is a British manufacturer of consumer weighing scale
s for personal and kitchen use, and other kitchen accessories. It is located in the UK, USA and Canada, and claims to have about 40% of the UK market and to be a leading brand in other countries including Australia, New Zealand, Hong Kong, Malaysia, Singapore, United Arab Emirates, Kenya, Chile and Portugal.
It is a subsidiary of HoMedics, a US-based manufacturer of "personal wellness" products.
, England
when Richard Salter, a spring
maker, began making the first spring scale
s in Britain. He called these scales "pocket steelyards
", though they work on a different principle from steelyard balances.
By 1825 his nephew George had taken over the company, which became known as George Salter & Co. George later established a manufacturing site in the town of West Bromwich
, about 4 miles (7 km) from Bilston. West Bromwich Albion was formed from workers at this works site. From here the company produced a wide variety of scales including the UK's first bathroom scales. Other items were added to the range, including irons, mincers, potato chippers, coin-operated machines and the first typewriters made in the UK.
The business thrived throughout the 1900s, and by 1950 it employed over 2000 people, still in the same area and owned by the same family.
In the late 1980s and early 90s Staveley acquired more businesses world-wide to form a new "weighing group" including the Weigh-Tronix company of America, and in 1998 after a management buyout
(MBO), this became the Weigh-Tronix Corporation, with Salter Housewares a part of that. The focus of the new corporation was increasingly towards industrial or commercial weighing, and in February 2002 the management team at Salter Housewares Ltd. bought the company out from the group to concentrate on its consumer businesses. The MBO was backed by Barclays Private Equity
to the sum of £18 million (€28m).
The company grew rapidly for the next two years, and in March 2004 it was sold to HoMedics, a US-based manufacturer of "personal wellness" products, generating an internal rate of return
(IRR) of approximately 70% for Barclays Private Equity. In 2006, Salter Housewares USA and Taylor Precision Products Inc (also owned by HoMedics) merged their sales, marketing and distribution operations.
Weighing scale
A weighing scale is a measuring instrument for determining the weight or mass of an object. A spring scale measures weight by the distance a spring deflects under its load...
s for personal and kitchen use, and other kitchen accessories. It is located in the UK, USA and Canada, and claims to have about 40% of the UK market and to be a leading brand in other countries including Australia, New Zealand, Hong Kong, Malaysia, Singapore, United Arab Emirates, Kenya, Chile and Portugal.
It is a subsidiary of HoMedics, a US-based manufacturer of "personal wellness" products.
History
The firm began life in the late 1760s in the village of BilstonBilston
Bilston is a town in the English county of West Midlands, situated in the southeastern corner of the City of Wolverhampton. Three wards of Wolverhampton City Council cover the town: Bilston East and Bilston North, which almost entirely comprise parts of the historic Borough of Bilston, and...
, England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
when Richard Salter, a spring
Spring (device)
A spring is an elastic object used to store mechanical energy. Springs are usually made out of spring steel. Small springs can be wound from pre-hardened stock, while larger ones are made from annealed steel and hardened after fabrication...
maker, began making the first spring scale
Spring scale
The spring scale apparatus is simply a spring fixed at one end with a hook to attach an object at the other. It works by Hooke's Law, which states that the force needed to extend a spring is proportional to the distance that spring is extended from its rest position...
s in Britain. He called these scales "pocket steelyards
Steelyard balance
A steelyard balance or steelyard is a straight-beam balance with arms of unequal length. It incorporates a counterweight which slides along the calibrated longer arm to counterbalance the load and indicate its weight...
", though they work on a different principle from steelyard balances.
By 1825 his nephew George had taken over the company, which became known as George Salter & Co. George later established a manufacturing site in the town of West Bromwich
West Bromwich
West Bromwich is a town within the Metropolitan Borough of Sandwell, in the West Midlands, England. It is north west of Birmingham lying on the A41 London-to-Birkenhead road. West Bromwich is part of the Black Country...
, about 4 miles (7 km) from Bilston. West Bromwich Albion was formed from workers at this works site. From here the company produced a wide variety of scales including the UK's first bathroom scales. Other items were added to the range, including irons, mincers, potato chippers, coin-operated machines and the first typewriters made in the UK.
The business thrived throughout the 1900s, and by 1950 it employed over 2000 people, still in the same area and owned by the same family.
Late 20th century to present
In 1972 the company was purchased by Staveley Industries Plc and was split into separate subsidiaries: housewares, industrial, etc., relocating as required.In the late 1980s and early 90s Staveley acquired more businesses world-wide to form a new "weighing group" including the Weigh-Tronix company of America, and in 1998 after a management buyout
Management buyout
A management buyout is a form of acquisition where a company's existing managers acquire a large part or all of the company.- Overview :Management buyouts are similar in all major legal aspects to any other acquisition of a company...
(MBO), this became the Weigh-Tronix Corporation, with Salter Housewares a part of that. The focus of the new corporation was increasingly towards industrial or commercial weighing, and in February 2002 the management team at Salter Housewares Ltd. bought the company out from the group to concentrate on its consumer businesses. The MBO was backed by Barclays Private Equity
Barclays Private Equity
Barclays Private Equity is the Private Equity division of Barclays Capital, the Investment Banking arm of Barclays plc. BPE have seven offices across four countries. Started in 1982 they have invested in over 350 businesses including Admiral Group and Dial-a-Phone. Typically €500m is invested per...
to the sum of £18 million (€28m).
The company grew rapidly for the next two years, and in March 2004 it was sold to HoMedics, a US-based manufacturer of "personal wellness" products, generating an internal rate of return
Internal rate of return
The internal rate of return is a rate of return used in capital budgeting to measure and compare the profitability of investments. It is also called the discounted cash flow rate of return or the rate of return . In the context of savings and loans the IRR is also called the effective interest rate...
(IRR) of approximately 70% for Barclays Private Equity. In 2006, Salter Housewares USA and Taylor Precision Products Inc (also owned by HoMedics) merged their sales, marketing and distribution operations.