Husqvarna Group has completed its acquisition of Orbit Irrigation from Platinum Equity for a price of $480 million. The deal was previously announced on October 27, 2021.
Orbit has 300 employees and offers watering equipment sold through retail, garden centers, e-commerce and professional channels. Its B-hyve suite of smart products assists its customers conserve water, promote plant health and save money.
“We invested in both organic and acquisitive growth, strengthening Orbit’s core product line and helping diversify its portfolio,” added Platinum Equity managing director Nick Fries. “Those efforts helped transform Orbit into a true omni-channel provider of water management and gardening solutions.”
Moelis & Company LLC and William Blair & Company, LLC served as financial advisors to Platinum Equity on the sale of Orbit. Gibson, Dunn & Crutcher LLP served as legal counsel to Platinum Equity on the transaction.