Rivulis provides smart micro and drip irrigation solutions for use in the agriculture, horticulture, greenhouse, landscape and mining industries
Singapore-based investment company Temasek has agreed to purchase a majority interest in Israel-based micro-irrigation solutions provider Rivulis.
Founded in 1966, Rivulis offers smart micro and drip irrigation solutions to the individual growers and large corporate plantations in the agriculture, horticulture, greenhouse, landscape and mining industries.
Rivulis outgoing chairman and FIMI Opportunity Funds senior partner Gillon Beck 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.”
Rivulis product brands include T-Tape, Ro-Drip, D5000 PC, Supertif and Eurodrip Eolos and Eolos Compact
The micro-irrigation solutions firm offers its products through brands such as T-Tape, Ro-Drip, D5000 PC, Supertif and Eurodrip Eolos and Eolos Compact.
With 2,000 employees, the company manages 16 manufacturing and distribution facilities and five design centres across the globe. Rivulis has three research and development (R&D) centres in Israel, Greece and California of the US.
Subject to all government authorisations, the deal is expected to be completed during the fourth quarter of this year.
Rivulis CEO Richard Klapholz said: “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.”
In August this year, Bayer’s investment arm Leaps by Bayer and Temasek have established a new company, known as Unfold, to develop new vegetable seed varieties for vertical farming.