Arable Capital Partners Acquires Lodi Pump & Irrigation
BELLEVUE, WA & BAKERSFIELD, CA - Arable Capital Partners has partnered with Lodi, California-based Lodi Pump and Irrigation (LPI) and the company’s principle Steve Borra Jr. The food- and agriculture-focused private equity firm announced the new partnership this week, adding LPI’s full service irrigation capabilities and reputation for delivering high-quality irrigation systems and services to its repertoire of ag companies.
“When we look at the business operation, history of outstanding customer service, and leadership that Steve and his team have at LPI we see a great fit for Arable and the type of business we like to invest in,” noted Greg Richards, Managing Director at Arable, in a joint press release.
Throughout the past 30 years, the two companies’ press release noted, LPI has set the industry standard for drip and sprinkler irrigation design and installation services throughout California. With a reputation for personal service and effective system design, the family-owned business has become one of the region’s largest and most well-respected service providers.
“Steve has grown LPI by entering new markets and adding additional product offerings. We are excited to partner with Steve and continue to invest for the long-term,” said Derek Yurosek, Managing Director of Arable.
LPI currently serves customers with high-value growing operations that include grapes, almonds, walnuts, olives, and other row crops throughout the Golden State. And because of the company’s geographical presence and exceptional reputation, LPI stood out to the Arable team, who felt a strong fit and an opportunity to invest in LPI and expand operations.
Borra Jr., who will continue to serve in the capacity of President of LPI, noted that the feeling was mutual, and LPI saw the opportunity to work with Arable’s team of industry veterans with extensive agriculture and investing experience as invaluable.
“Our family saw a great cultural fit with Arable from the start and quickly developed a collaborative relationship with their team. This combination will help us better serve our customers and provide enhanced opportunities for our employees and business partners,” Borra Jr. said.
The two companies will reportedly continue to build LPI as a company and work together to serve the irrigation systems and services provider’s clients and team members.
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