Orbit Irrigation Products and Hydro-Rain have been sold to Platinum Equity
Lincoln acted as the exclusive financial advisor for Pro-Mark, the parent company of Orbit Irrigation and Hydro-Rain, (collectively, Orbit), working closely with the company’s management team and shareholders throughout the sale process. The terms of the transaction were not disclosed.
Headquartered in North Salt Lake, Utah, Orbit is a manufacturer of branded irrigation and smart watering solutions for residential, commercial, agricultural and smart home markets. Orbit provides a wide range of differentiated, branded products, including timers, sprinklers, hose watering products, drip irrigation systems and other garden products, catering to the complete needs of homeowners and professionals. Available in over 15,000 stores across the U.S. and 40+ countries, the company’s leading market position is supported by prominent brands (Orbit, Hydro-Rain, B-hyve), a deep product portfolio of over 2,000 SKUs, strong relationships with blue-chip customers, a technology-driven conservation focus through B-Hyve, world-class manufacturing and a developed global infrastructure.
Pro-Mark was founded by Max Ericksen in 1971 and each of Max’s children contributed to building the company into a global distribution network with products available in 40+ countries and all 50 U.S. states. For nearly four decades, K.C. Ericksen served as CEO, Mike Ericksen as Executive Vice President of Sales, Dave Beck as President and Chairman of the Board, Steven Ericksen as Executive Vice President and Greg Ericksen as Corporate Counsel.
Dave Beck, former Chairman of Pro-Mark, commented, “After decades of working towards the successful execution of growth initiatives for our business, and carefully nurturing our multiple brands and thousands of SKUs, we were excited to partner with Lincoln to meet the shareholders’ goals for liquidity and finding the right partner for Orbit. We are pleased with the outcome of this process for our family, our employees and our customers.”
Stuart Eyring, CEO of Orbit, added, “Lincoln did an excellent job guiding our team throughout the sale process, and we thank them for their invaluable expertise and hands-on approach. We are excited to partner with Platinum Equity in continuing Orbit’s tradition of product and business innovation and extending our global influence in conservation through the application of smart technologies.”
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