Prospect Partners has made an investment in Irrigation Components International, a provider of agricultural irrigation equipment. This is Prospect Partners’ fourth platform investment for its third fund.
Irrigation Components International (ICII) manufactures and distributes irrigation equipment parts to original equipment manufacturers and after-market customers, primarily dealers. The company’s products include mechanical and electrical components to make center pivots, including power transmissions, flow meters, sprinklers, controls, wires and cables, and fittings. ICII is based in Daphne, AL (www.irricomp.com).
Prospect Partners focuses exclusively on management-led leveraged recapitalizations and acquisitions of niche market leaders with revenues typically between $10 million and $75 million. Since 1998, Prospect Partners has invested nationwide in more than 86 companies in a range of niche manufacturing, distribution, and specialty service markets. The firm has $470 million of capital under management and is based in Chicago (www.prospect-partners.com).
The other portfolio companies in Prospect Partners’ $200 million third fund are: Landmark Irrigation Holding Services, a designer and installer of custom micro-irrigation systems for Central California farmers; Prospect Water Co., a provider of water treatment products and services through independently franchised dealers; and SurePoint Holdings, a nationwide provider of direct-to-consumer diabetes-care supplies and services.
© 2012 PEPD • Private Equity’s Leading News Magazine • 12-5-12