Sir W H Bailey & Co Ltd came into existence in 1913, following the death of Sir William H Bailey, owner of the company under its previous name W H Bailey & Co.

The company dates back to 1839, with the establishment of John Bailey's clock making business at Albion Works in Salford. By 1863, the business was known as John Bailey & Co, and is listed in the Slater's Trade Directory as turret clock makers, brassfounders, steam and water gauge makers, and copying press makers.

Sir William H Bailey was the son of John Bailey and took over the running of the business in 1865 under the name John Bailey & Co. From 1865, the company focused on the manufacture of steam related machinery and equipment, including valves, gauges, lifts, hoists, steam pumps, injectors and boiler fittings. By 1879, the company advertised itself as hydraulic engineers, alongside its existing interests.

In 1885 a new works opened at Hall Bank, Patricroft. In 1889, the business became a private limited company known as W H Bailey & Co Ltd, Hydraulic Engineers, Brassfounders, Machinists and manufacturers and merchants of all kinds of tools, plant, and instruments. Ten years later, the company expanded to include additional premises in Salford for the manufacture of motorcar engines.

Sir William H Bailey's son Alfred Bailey became the governing director of the renamed company in 1918. Another son, Frederick, became managing director the same year. Frederick was chairman of the company in 1940, succeeding his brother Alfred. The original Albion works were closed and demolished that same year, with all manufacturing moving to the Patricroft site.

In 1966, Sir William H Bailey & Co Ltd became a subsidiary of Yorkshire Imperial Metals, continuing to operate under its own name, as it did after a merger with another subsidiary company, Whites-Nunan Ltd, the following year. The works at Patricroft were retained as a foundry and manufacturing site. The company name survived until 1978, when it became known as IMI Bailey Valves Limited.