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New Deal


Announced

Carlyle-backed Farmfront Group completed the acquisition of Irrimec, Otech, and RKD.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

irrigation systems

Acquisition

Single Bidder

Italy

France

Spain

Machinery: Agricultural

agricultural machinery

Majority

Private Equity

Cross Border

Completed

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Synopsis

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Carlyle-backed Farmfront Group, a platform of irrigation providers, completed the acquisition of three European irrigation firms Irrimec, Otech, and RKD. Financial terms were not disclosed. “I am excited to lead Farmfront as we look to unlock the potential of a global platform of irrigation providers that combines the expertise of Ocmis, Irrimec, Otech, and RKD. Globally, just 18% of arable land is being irrigated, and of that, just a quarter is being irrigated with efficient technologies. Farmfront aspires to change this status quo, with plans to deliver cutting edge and digitally-enabled irrigation services across the platform, ultimately helping farmers improve their profitability, efficiency, and the sustainability of their daily operations. With Carlyle’s support, I look forward to launching Farmfront into new international markets and further expanding the platform in the years ahead," Daniel Neves, Farmfront Group CEO.

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