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New Deal


Announced

Platinum Equity acquired Hydro-Rain and Orbit Irrigation.

Synopsis

Platinum Equity acquired Pro-Mark, the parent company of Hydro-Rain and Orbit Irrigation. Headquartered in Salt Lake City, Orbit is a leading provider of irrigation systems and related products for the residential home improvement markets. Hydro-Rain serves the professional market with a line of contractor-grade irrigation and lighting products. Financial terms were not disclosed. “Orbit has created a successful business through a combination of product innovation, quality and entrepreneurial spirit,” said Platinum Equity Partner Jacob Kotzubei. “With the addition of our financial, operational and M&A resources to support the company’s growth, Orbit is poised to take yet another significant step forward. There are opportunities to deploy operational best practices throughout the organization and leverage the company’s brand to drive additional growth in both core and adjacent markets.”

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