Announced
Financials
Sources
Tags
Greece
irrigation solutions
Machinery: Agricultural
Friendly
Single Bidder
Pending
private equity
United States
Private Equity
Cross Border
Private
Private Equity
Majority
Merger
Synopsis
Rivulis, a drip and micro irrigation manufacturer, agreed to merge with Paine Schwartz Partners-backed Eurodrip, a company that manufactures and supplies integrated drip irrigation solutions for agricultural and landscaping applications. Financial terms were not disclosed. "We are thrilled to have these two leading companies join forces to better serve the growing needs of the irrigation markets around the world. While benefitting from significant operational economies of scale, we will ensure that all commitments to our distribution business partners are maintained and further strengthened. Our goal is to ensure that our business partners will continue to be successful with the products and solutions of both companies - but now with a wider offering and stronger manufacturing base. I am looking forward to working closely with the Eurodrip teams around the world and I am certain that we will all benefit from their vast experience and their continued commitment and dedication," Richard Klapholz, Rivulis CEO.
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