After completing the acquisition of three irrigation companies, private investment firm Arable Capital Partners has combined them into one platform – Laurel Agriculture + Water Solutions – to focus on ag innovation and precision water solutions.
The three companies – Hydratec, Lodi Pump & Irrigation and Universal Irrigation and Supply – have been combined to provide growers with the right tools to cultivate the land in a sustainable, profitable and responsible way, Arable said. It did not disclose transaction details.
Acquired in April 2018, Hydratec is a leading designer and installer of agricultural micro-irrigation products and systems, located in the San Joaquin Valley, California. Lodi is focused on drip and sprinkler irrigation design and installation services for customers with high-value growing operations including grapes, walnuts, olives and other row crops. It is also based in California and was acquired in July 2018. Universal Irrigation & Supply, acquired in August 2018, is a full-service irrigation and supply company offering design, installation and maintenance services in California’s Central Valley region.
“Laurel has the ability through this combination of successful businesses and management teams to create value for their customers. We are excited to watch the collaborative effort to innovate and develop new solutions for our clients and partners alike,” said Greg Richards, Managing Director of Arable Capital Partners.
The firm targets long-term strategic investments exceeding 15 years, exclusively in food and agriculture companies industry-wide in the Western US. These range from seeds and produce to cutting-edge farm equipment and pre-cut packaged products ready to buy off the shelf.
Arable announced last August the first and final close of its debut fund, securing $300 million in investment capital.