Ritchie Industries Acquired by Granite Creek Capital
Deal News | Jan 16, 2025 | Granite Creek Capital
Granite Creek Capital has acquired Ritchie Industries, Inc., a prestigious manufacturer of automated livestock watering products, in a move set to broaden Ritchie's footprint and product line. Ritchie, which has a century-long legacy of innovation and quality, continues its operations in Conrad, Iowa, where it was founded following the development of the first automatic livestock watering device by Thomas Ritchie. The acquisition is aligned with Granite Creek's strategy to leverage its expertise in the livestock market and enhance Ritchie’s market-leading position. The transaction was bolstered by investments from the Rural American Fund and rollover contributions from Ritchie's management and employees. Jim Clark from Granite Creek expressed excitement in partnering with Ritchie to further its product innovation and market reach both domestically and internationally. CEO of Ritchie Industries, Robert Amundson, lauded the partnership as a new chapter poised for product and market expansion, highlighting the backing from Granite Creek and Rural American Fund.
Sectors
- Manufacturing
- Agriculture
- Investment Management
Geography
- United States – Ritchie Industries is based in Conrad, Iowa, and both its operations and target markets are rooted in the U.S.
Industry
- Manufacturing – Ritchie Industries operates in the manufacturing industry, producing automated livestock watering products.
- Agriculture – The product offerings of Ritchie Industries cater to various agricultural markets, including beef, dairy, and equine.
- Investment Management – Granite Creek Capital and Rural American Fund belong to the investment management industry, involved in funding and acquiring stakes in companies like Ritchie Industries.
Financials
- Not specified – The financial terms of the acquisition were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ritchie Industries, Inc. | Target Company | Company | A leading manufacturer of automated livestock watering products headquartered in Conrad, Iowa. |
| Granite Creek Capital | Bidding Company | Company | A private equity firm that acquired Ritchie Industries. |
| Rural American Fund | Investor | Company | An investment firm that supported the acquisition of Ritchie Industries. |
| Jim Clark | Partner at Granite Creek | People | Expressed excitement in the strategic acquisition of Ritchie Industries. |
| Robert Amundson | CEO of Ritchie Industries | People | CEO who highlighted the significance of the new partnership with Granite Creek and Rural American Fund. |