Temasek has signed an agreement to acquire a majority stake in Rivulis. The completion of the acquisition is subject to all government authorizations and is expected to occur during the fourth quarter of 2020. Incorporated in 1974, Temasek is a Singapore-headquartered global investment company, which owns a US$214 billion portfolio. Its portfolio includes significant exposure to the agribusiness space, as well as a focus on sustainable living, which is core to Rivulis’ business.
Rivulis is a global micro irrigation company innovating and deploying smart micro and drip irrigation solutions to help growers achieve higher yields, higher quality and great profitability while safeguarding the sustainability of grower land and livelihood. With a comprehensive product portfolio, Rivulis is leading the adoption of micro irrigation globally. With 2,000 employees, 16 factories in 14 countries, 3 R&D centers in agricultural hot spots and 5 design centers globally, Rivulis is able to be close to the market, within reach of the growers. Rivulis represents the successful integration of 4 leading industry pioneers and veterans: Plastro, T-Systems, Roberts Irrigation and Eurodrip.
Richard Klapholz, Rivulis CEO, commented: “We are thrilled to welcome Temasek to our register as our largest shareholder. They are a forward-looking, generational investor focused on investments addressing global sustainability challenges. As we all know, micro irrigation is a transformative technology, which offers the only viable solution to water scarcity and to the resulting global food constraints. Temasek’s investment in Rivulis should be welcomed by our employees, our business partners and the growers, who are our customers.”
Gillon Beck, the outgoing Chairman of Rivulis, and Senior Partner, FIMI Opportunity Funds, said: “The investment by Temasek is a major milestone for Rivulis. We are proud of what the company has achieved in the past few years. The Board, together with the company’s management, did an incredible job in turning the company around. This team has enabled the company to build a world recognized brand, achieve rapid growth, and expand to new geographies while innovating new breakthrough technologies. We are excited for the company’s next chapter. Thank you management and all employees for such tremendous and relentless efforts, and wish you good luck.”
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