Granite Creek Capital Partners Acquires Ritchie Industries, Leading Livestock Waterer Manufacturer
Deal News | Jan 16, 2025 | Globenewswire
Granite Creek Capital Partners, a private investment firm based in Chicago, has announced the acquisition of Ritchie Industries, a prominent manufacturer of automated livestock watering products. With a history exceeding 100 years, Ritchie Industries is a leading brand in the livestock waterer industry, known for innovation and quality. The acquisition sees Granite Creek aiming to capitalize on Ritchie's robust foundation to enhance product offerings and expand market reach, both domestically and internationally. The transaction was also supported by an investment from the Rural American Fund and a rollover investment from Ritchie’s management and employees. This marks a new phase for Ritchie, as expressed by its CEO, Robert Amundson. Granite Creek plans to leverage its expertise in agribusiness and animal health, ensuring Ritchie continues to innovate and meet the needs of its broad customer base across various livestock sectors. The acquisition emphasizes the vibrant potential and growth prospects within the livestock and agribusiness markets.
Sectors
- Agribusiness
- Private Equity
Geography
- United States – The companies involved, Granite Creek Capital Partners and Ritchie Industries, are based in the U.S., with Ritchie manufacturing in Conrad, Iowa.
Industry
- Agribusiness – The article discusses the acquisition of Ritchie Industries, a company involved in the production of livestock watering products, which is a significant part of the agribusiness sector.
- Private Equity – Granite Creek Capital Partners, a private investment firm, plays a central role in the acquisition, emphasizing its activities in the private equity industry.
Financials
- Not Disclosed – The financial terms of the acquisition were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Granite Creek Capital Partners | Acquirer | Company | A Chicago-based private investment firm focused on providing capital and operational resources to lower middle market companies. |
| Ritchie Industries | Target Company | Company | A Conrad, IA-based manufacturer of automated livestock watering products with a strong brand presence in the waterer industry. |
| Rural American Fund | Investor | Company | A private equity firm with a niche strategy targeting the agribusiness market, supporting the acquisition financially. |
| Jim Clark | Partner at Granite Creek | Person | Involved in the acquisition process, expressing the firm's intent to build on Ritchie's strong foundation. |
| Mike Ray | Operating Partner at Granite Creek | Person | Expressed enthusiasm for leveraging expertise in livestock markets to support Ritchie's growth. |
| Robert Amundson | CEO of Ritchie Industries | Person | Acknowledged the investment as a new chapter for the company, emphasizing growth and product expansion plans. |