Platinum Equity buys Orbit Irrigation and Hydro-Rain
Summary
LOS ANGELES and SALT LAKE CITY, Feb. 06, 2019 (GLOBE NEWSWIRE) — Platinum Equity announced today the acquisition of Pro-Mark, the parent company of Orbit Irrigation and Hydro-Rain, from affiliates of the company’s founders. Headquartered in Salt Lake City, Orbit is a leading provider of irrigation systems and related products for the residential home improvement markets. “It was clear Platinum Equity values the culture we created over the past 40 years and has great depth of experience helping businesses like Orbit maximize their potential.” Ericksen, representing brothers Greg, Mike and Steven, who also served in senior leadership roles at the company, said the business is well positioned for continued growth. The company serves markets spanning six continents and 40 countries, and for decades has been a worldwide leader in designing and building innovative water optimization products.