Add-on Acquisition • Manufacturing

Husqvarna Acquires Orbit

On October 26, 2021, Husqvarna acquired manufacturer Orbit from Platinum Equity for 480M USD

Acquisition Context
  • This is Husqvarna’s 1st transaction in the Manufacturing sector.
  • This is Husqvarna’s 2nd largest (disclosed) transaction.
  • This is Husqvarna’s 9th transaction in the United States.
  • This is Husqvarna’s 1st transaction in Utah.

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M&A Deal Summary

Date October 26, 2021
Target Orbit
Sector Manufacturing
Buyer(s) Husqvarna
Sellers(s) Platinum Equity
Deal Type Add-on Acquisition
Deal Value 480M USD

Target Company

Orbit

Bountiful, Utah, United States
Orbit is a provider of residential watering solutions whose mission is to bring smart technology to homeowners, landscape professionals, and farmers across the globe. 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. Orbit is based in Bountiful, Utah.
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Buyer Overview 1

Buyer

Husqvarna

Stockholm, Sweden

Category Company
Founded 1689
Sector Machinery
Employees12,596
Revenue 48.4B SEK (2024)
DESCRIPTION

Husqvarna is a producer of outdoor power products, including robotic mowers, garden tractors, chainsaws, and trimmers. Husqvarna also produces consumer watering products as well as cutting equipment and diamond tools for the construction and stone industries. Husqvarna was founded in 1689 and is based in Stockholm, Sweden.


Deal Context for Buyer #
Overall 15 of 16
Sector: Manufacturing 1 of 1
Type: Add-on Acquisition 13 of 14
State: Utah 1 of 1
Country: United States 9 of 9
Year: 2021 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-15 Mowbot

Durham, North Carolina, United States

Mowbot, a robotic lawn care franchise business with 16 locations throughout the U.S. The company provides high-quality and environmentally friendly robotic lawn care services for residential and commercial customers. Mowbot is based in Durham, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-23 InCeres

São Paulo, Brazil

InCeres is a digital platform in the Professional light agriculture segment. The company is an expert in soil analysis that facilitates decision-making and improves productivity for farmers. InCeres is based in São Paulo, Brazil.

Buy -

Seller Profile 1

SELLER

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.


Deal Context for Seller #
Overall 73 of 86
Sector: Manufacturing 5 of 5
Type: Add-on Acquisition 36 of 42
State: Utah 1 of 1
Country: United States 60 of 71
Year: 2021 6 of 8
Size (of disclosed) 8 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-19 Pelican Products

Torrance, California, United States

Pelican Products is a designer and manufacturer of high performance protective cases, temperature controlled packaging solutions, advanced portable lighting systems and rugged gear for professionals and outdoor enthusiasts. Pelican's products are used by professionals in the most demanding markets including fire safety, law enforcement, defense / military, aerospace, entertainment, industrial and consumer. Pelican products are designed and built to last a lifetime. Pelican Products was founded in 1976 and is based in Torrance, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-11 Sigura

Alpharetta, Georgia, United States

Sigura is a provider of water treatment solutions for residential pool care and industrial water care. The Company has six production facilities in North America, South America, and EMEA, with sales locations globally.

Sell -