Israel’s Rivulus Sold To Singapore’s Temasek For $365 Million
Rivulus, an Israeli company which innovates in the field of irrigation, has been sold to Singapore’s government holding company Temasek Holdings. Temasek is acquiring 85% of Rivulus, this according to an exclusive report in Calcalist today. Temasek will retain Rivulis’ leadership and is not planning on moving its offices from their current location in Israel’s Kibbutz Gvat.
The negotiations over the sale reportedly started a year ago, but were suspended due to the Corona Virus crisis.
Israel-based private equity firm FIMI Opportunity Funds and U.S. based Paine & Partners are the current majority shareholders in Rivulus. They will each receive $240 million and $125 million respectively.
Rivulis has more than 50 years of expertise developing, manufacturing and deploying micro irrigation products and solutions. Rivulis makes the adoption of micro irrigation more accessible to growers everywhere by providing cost effective irrigation solutions, less labor intensive systems and value added services with the broadest and most trusted irrigation product portfolio in the market.
Starting in 1966 as Plastro on Kibbutz Gvat in Israel, Rivulis has grown over the years to become a global irrigation leader, expanding our drip irrigation and micro irrigation capabilities, market coverage and operational scale through the merger of four leading players: Plastro, T-Systems, Roberts Irrigation and Eurodrip. Rivulis is backed by three strong investors: FIMI, Paine Schwartz Partners and JHI (Jaya Hind Industries).
Founded in 1974, Temasek is a global investment company headquartered in Singapore and has some $306 billion in assets. It is a generational investor, seeking to make a difference always with tomorrow in mind. It is an investment company which owns and manages its assets based on commercial principles. As an active investor, it shapes its portfolio by increasing, holding or decreasing our investment holdings.
