The merger gives us the capability to provide grower focused, turn-key, end-to-end project solutions. -Anil Jain CEO of Jain Irrigation Systems
Fresno, Califonia (PRWEB)
April 19, 2017
Two of the United States’ largest irrigation dealers, Agri-Valley Irrigation, Inc. and Irrigation Design and Construction, have entered into an agreement to merge their businesses into a newly formed distribution company funded by Jain Irrigation Systems Ltd. The combined entity has 13 large dealership locations throughout California. The new organization is an un-paralleled leader in design, construction, service, and innovative Ag Technology. This entity will provide a unique platform to help growers implement state-of-the-art irrigation technology and achieve more crop per drop.
Anil Jain, CEO of Jain Irrigation Systems Ltd. said, “We are delighted to be able to finance and participate in such an industry changing and strategic partnership. The transaction gives us the capability to provide grower focused, turn-key, end-to-end project solutions, consistent with our global solutions and capabilities. With this newly formed company, we’ll be able to deliver leading Ag Tech Irrigation solutions from our recent investments. Congratulations and thanks to Mr. Larry Rompal, Mr. Michael Conrad, their families and associates.”
Larry Rompal, CEO, Agri-Valley Irrigation, Inc. said, “After 34 years of building Agri-Valley with my family and our team, I am excited to partner with another family company, Jain Irrigation, and to join with our friends at Irrigation Design & Construction to continue the tradition of providing the best irrigation systems and services to our customers. I look forward to the improvements we’ll bring to the grower together.”
Michael Conrad, President of Irrigation Design & Construction added, “This merger will build upon the strength of our three companies and allow us to provide growers with the most comprehensive levels of service. Agri-Valley Irrigation and Jain share our philosophy of doing what is right for the customer and industry. We look forward to working together to move the irrigation industry forward.”
Agri-Valley Irrigation and Irrigation Design and Construction will maintain their names with day-to-day operations being managed independently by the current teams reporting to the Board of Directors of a newly formed entity, Jain Distribution Holdings, Inc. They’ll work to implement best practices and to extract synergies of the combined entity to provide increased value for all the stakeholders. While the terms of the deal were not disclosed, Agri-Valley Irrigation and Irrigation Design and Construction, will have minority ownership in the new companies. The transactions are expected to close near the end of April.