Platinum Equity, Beverly Hills, California, has introduced the purchase of Pro-Mark, the figure agency of Orbit Irrigation and Hydro-Rain from associates of the corporation’s founders. Financial phrases have been now not disclosed. Sprinkler Repair
Headquartered in Salt Lake City, Orbit is a provider of irrigation systems and associated products. Hydro-Rain is its industrial line of professional-grade irrigation and lights products.
Pro-Mark became based by means of Max Ericksen in 1971. Over the closing forty years his family has built Orbit right into a worldwide distribution network with merchandise available in 40 nations and all 50 U.S. States.
“Orbit has created a a hit business through a aggregate of product innovation, satisfactory and entrepreneurial spirit,” says Platinum Equity Partner Jacob Kotzubei. “With the addition of our economic, operational and M&A resources to aid the corporation’s boom, Orbit is poised to take but some other sizeable breakthrough.”
Orbit CEO Stuart Eyring will remain in his modern-day position following the transition to new ownership. “This is thrilling news for our corporation and our customers,” says Eyring. “With Platinum Equity’s guide, we’ll be able to make additional investments in growth and new generation. We are very enthusiastic about the opportunities in advance folks.”