Orbit Irrigation of North Salt Lake is being sold to the Husqvarna Group of Los Angeles by current owner Platinum Equity in a deal worth about $480 million. Orbit will become part of Husqvarna Group’s Gardena Division.
Orbit has approximately 300 employees and generates over 95 percent of its revenues in North America. The Orbit product offering includes watering equipment sold through retail, garden centers, e-commerce and professional channels. In addition, the company’s "B-hyve" suite of smart products is designed to help consumers conserve water, promote plant health and save money. Platinum Equity acquired Orbit in February 2019. Orbit’s revenue increased approximately 75 percent since the acquisition.
“Orbit’s success is the result of a strong partnership with the company’s leadership team and a lot of hard work by dedicated employees at every level of the organization,” said Platinum Equity partner Jacob Kotzubei. “We deployed the full range of Platinum’s M&A and operational toolkit in service of transforming the company into an industry leader, and we are proud of everything the company has accomplished.”
“Platinum helped Orbit transform from a traditional consumer goods company into an innovative technology provider,” said Orbit CEO Stuart Eyring. “They also helped us put the systems and infrastructure in place to facilitate our growth and transition to a true market leader. Today we are well-prepared to join forces with Husqvarna Group’s Gardena Division, one of the world’s leading innovative gardening product brands.”
In June 2020, Orbit acquired Bond Manufacturing, a manufacturer and distributor of irrigation and garden products, including hose and watering devices.