Rivulis Irrigation News
15 articlesRivulis Appoints Irrigation Industry Veteran Joshua Dixon as CEO
growth-positive
Rivulis and Jain Irrigation's International Irrigation Business to merge to create a Global Irrigation and Climate Leader
Rivulis and Jain Irrigation Systems Limited have entered into a merger agreement, with Rivulis acquiring multiple overseas subsidiaries of Jain Irrigation. The merged company, called Rivulis (In alliance with Jain International), will be a global leader in irrigation and climate solutions. The merger will enable the company to provide extensive product offerings and digital farming services to growers and business partners worldwide. Temasek, a global investment company, will become the majority shareholder of the merged company. The transaction is subject to regulatory approvals. The merged company will be headquartered in Singapore and Israel and will focus on accessibility, innovation, and sustainability in the agricultural irrigation sector.
AcquisitionPartners
growth-positive
FIMI quadruples investment on sale of Rivulis
Temasek investment fund has completed the purchase of irrigation systems company Rivulis for $450 million. FIMI Opportunity Funds, which bought Rivulis in 2014, has realized its 60% stake at a company valuation of $450 million, quadrupling its investment. Rivulis is now the worlds second largest irrigation company.
Acquisition
growth-positive
Singapore's Temasek signs deal to acquire Israeli micro-irrigation company Rivulis
Singapores Temasek Holdings has acquired 85% of Israel-based micro-irrigation company Rivulis Irrigation Ltd. The deal was signed with Rivulis controlling shareholder, FIMI Opportunity Funds (56%), and Paine & Partners (29%). Temasek intends to retain Rivulis current management and headquarters. FIMI will receive approximately $240 million for its shares, while Paine & Partners will get $125 million. The sale process began over a year ago and was halted due to the COVID-19 outbreak. Rivulis sales in 2019 were around $400 million. Rivulis employs 1,800 people across 16 facilities worldwide. Temasek has $306 billion in assets under management.
Acquisition
growth-positive
Temasek in Talks for Irrigation Company Rivulis
Singapores government holding company Temasek Holdings is in talks to acquire Israel-based micro irrigation company Rivulis Irrigation Ltd. FIMI Opportunity Funds, Rivulis controlling shareholder, is asking for between $400 million and $500 million. Temasek is conducting a due diligence process for Rivulis. Other interested parties are also negotiating with FIMI, but FIMI is currently negotiating solely with Temasek.
Acquisition
growth-negative
FIMI in Early Talks to Sell Irrigation Company Rivulis
FIMI Opportunity Funds, a private equity firm, is in talks to sell Rivulis Irrigation Ltd. The negotiations are mainly with foreign funds. FIMI and its partners have hired Goldman Sachs to lead the sale, with a target valuation of between $500 million and $550 million. Rivulis was created when FIMI acquired the water division of John Deere in 2014. FIMI has taken steps to bolster Rivulis since the acquisition, including layoffs and acquisitions to strengthen its presence in Turkey and South America. The sale is still in early stages and may be postponed or canceled due to market instability.
AcquisitionInvestmentLayoffs
growth-positive
Rivulis Irrigation buys Greek co Eurodrip
Rivulis Irrigation, an Israeli drip irrigation manufacturer, has acquired Greek irrigation company Eurodrip, making it the worlds second largest irrigation company outside of India. The financial details of the acquisition were not disclosed, but it was an all-share deal. The Israeli private equity firm FIMI Opportunity Funds will remain the controlling shareholder in Rivulis. The company expects revenue of NIS 1.25 billion in 2017. The merger aims to better serve the growing needs of the global irrigation market and provide advanced agricultural technology to farmers worldwide.
Acquisition
growth-positive
Rivulis and Eurodrip Announce Merger to Create a World Leader in Micro Irrigation
Rivulis Irrigation Ltd. and Eurodrip S.A. have entered into a definitive merger agreement, creating a global leader in micro irrigation. The merged company will have 18 factories worldwide and 1,800 employees across 5 continents and 30 countries. The merger is expected to provide growers with an extensive product and solution offering. All current shareholders of both companies will remain shareholders of the merged company. The merged company will be headquartered in Israel and named Rivulis Irrigation, Ltd. Richard Klapholz, the current CEO of Rivulis Irrigation, will lead the merged company.
Acquisition
growth-positive
Israel: Rivulis establishes software division Manna Irrigation
Rivulis Irrigation has announced the establishment of Manna Irrigation Ltd., a fully owned subsidiary that will develop, market and deliver irrigation-focused precision agriculture software services. Manna Irrigation has acquired all the assets of Agam Advanced Agronomy Harei Megido Ltd., a leader in precision farming and remote sensing services in Israel. The new subsidiary will help growers make better informed decisions to enhance crop productivity and operational efficiency.
AcquisitionExpand
growth-positive
India's DEL buys stake in Israeli irrigation co Rivulis
Private equity fund FIMI Opportunity Funds is bringing a partner, Dhanna Engineering (DEL), into Rivulis Irrigation. DEL is acquiring a 20% stake in Rivulis for $34 million, valuing the company at $170 million. FIMI acquired Rivulis for $60 million six months prior. The partnership with DEL will help Rivulis expand into the Indian market. Rivulis has been on the mend since FIMI acquired it, with improvements in management and operational parameters. The Firodia family, owners of DEL, are one of Indias wealthiest families and have a personal worth of $1.4 billion. Rivulis plans to leverage the familys experience to become a key player in irrigation in India, the worlds largest irrigation market.
Investment
growth-negative
FIMI Purchased John Deere Water, that has Technological Expertise in Irrigation Technology
The FIMI investment fund has purchased John Deere Water for $60 million, renaming it Rivulis Irrigation. The new owners aim to turn around the companys heavy losses and achieve a greater return on investment. John Deere Water had reported poor economic performance, with sales of drip-irrigation products dropping from $150 million to $80 million annually. The company has production sites in multiple countries and employs distributors and marketing offices worldwide.
Investment
growth-negative
FIMI completes John Deere Water acquisition
FIMI Opportunity Funds has acquired John Deere Water for $60 million. The private equity fund plans to establish the companys center of business in Israel and implement a growth strategy and operational improvements. John Deere Water includes Plastro Irrigation of Kibbutz Gvat and US irrigation equipment companies Roberts Irrigation Inc. and T-Sytems International Inc. The acquisition was prompted by John Deere Waters losses, leading Deere & Company to sell it.
Acquisition
growth-positive
Deere buys Plastro Irrigation
Deere & Co. has acquired the remainder of Plastro Irrigation Systems, a maker of plastic irrigation equipment. The acquisition combines Plastro with John Deere Water Technologies and T-Systems International. This move doubles the employment of Deeres Water Technologies unit and makes John Deere the worlds third-largest agricultural irrigation firm. The terms of the Plastro deal were not announced, but Deere previously agreed to acquire control of Plastro for 265 million new Israeli shekels ($73 million).
Acquisition
Growth-Positive
Deere finalizes acquisition of Israel-based Plastro Irrigation;terms not disclosed - quick facts
Deere & Company has completed the acquisition of Plastro Irrigation Systems, Ltd., an Israel-based company. The terms of the transaction were not disclosed. This acquisition is expected to boost the growth of John Deere Water Technologies. Deere plans to merge Plastro with its current John Deere Water Technologies operations and T-Systems International, which it acquired last month. This makes John Deere the third largest agricultural irrigation company globally.
Acquisition
growth-positive
John Deere buys Plastro
John Deere has signed a contract to acquire Plastro Irrigation Systems from Kibbutz Gvat for NIS 265 million. The acquisition is growth-positive for John Deere. The key theme of the article is the acquisition of Plastro Irrigation Systems. The structured issue is the acquisition. The event described in the article occurred on February 10, 2008. The confidence level is 8.
Acquisition
