Granite Creek Capital Partners has acquired Ritchie Industries, a maker of automated livestock watering systems. Also investing in this transaction were the Rural American Fund and members of the company’s senior management team.
Ritchie’s products are used by producers in the beef, dairy, equine, and small livestock sectors. The company’s product lines include the OmniFount series, which can provide fresh water for up to 500 head of cattle; EcoFount, designed for energy efficiency in cold climates; and StallFount, suitable for individual horses or small enclosures.
The company’s products are used by ranchers, dairy farmers, equestrian facilities, and hobby farms to ensure clean, temperature-regulated water access for animals. Ritchie’s products are in use and are distributed across all 50 U.S. states and 20 countries internationally. Ritchie Industries was founded in 1921 by Thomas Ritchie, who patented the first automatic float-controlled waterer. Today, the company, led by CEO Robert Amundson, is headquartered 55 miles northeast of Des Moines in Conrad, Iowa. Ritchie has been employee-owned since 2004.
“The investment and partnership with Granite Creek and Rural American Fund mark an exciting new chapter in Ritchie’s history,” said Mr. Amundson. “With Granite Creek and Rural American Fund’s support and growth ambitions, we are positioned to expand our product offerings and gain market share in new and existing end-markets.”
“Ritchie has a storied history and has built an unmatched reputation for quality and integrity,” said Jim Clark, a partner at Granite Creek. “We are excited to have the opportunity to partner with the company to build on its strong foundation and explore new products and services that will further expand Ritchie’s market-leading position.”
Granite Creek typically invests $10 million to $20 million in companies with revenues ranging from $25 million to $100 million and EBITDA between $3 million and $15 million. Sectors of interest include business services, food and agribusiness, healthcare, and niche manufacturing and distribution.
A recent transaction closed by Granite Creek was the buy of Global Animal Products, a Texas-based manufacturer of feed additives for livestock. GAP specializes in producing and distributing complex trace minerals for livestock, with a particular focus on liquid applications. Among its product offerings is ZinMet liquid zinc methionine, a supplement designed to enhance animal health and performance.
“We are ready to leverage our expertise in livestock markets and animal health to support the Ritchie team. Clean, reliable water access in any weather and operating conditions is vital to a herd’s performance,” said Mike Ray, an operating partner at Granite Creek. “We look forward to supporting Ritchie’s ongoing product innovation efforts for its customers in the United States and international markets.”
In November 2023, Granite Creek closed its third investment fund at $300 million, surpassing its target. Granite Creek, founded in 2005, is headquartered in Chicago.
Rural American Fund invests from $5 million to $10 million of equity in companies with at least $10 million in revenue and at least $2 million of EBITDA. The Chicago-headquartered firm, led by Thomas Karlson, Mia Koch, and Nolan Spencer, was founded in 2008 and focuses exclusively on agribusiness investments.
Prairie Capital Advisors was the financial advisor to Ritchie on this transaction. The Prairie transaction team was led by Anthony Dolan and Maxx Zomick.
Granite Creek’s buy of Ritchie Industries closed in January 2025.
© 2025 Private Equity Professional | April 2, 2025
