Architecture, Engineering, Construction & Building Products, Food, Beverage & Agribusiness
Landmark Irrigation has been acquired by TriCal Group
Published January 18, 2022
Meridian Capital advises Landmark Irrigation on its acquisition by TriCal Group
Meridian Capital LLC (“Meridian”), a Seattle-based leading middle market investment bank and M&A advisory firm is pleased to announce the successful acquisition of its client, Landmark Irrigation (“Landmark” or “Company”), a portfolio company of Prospect Partners (“Prospect”), by TriCal Soil Solutions, Inc. (“TriCal”), a member of the TriCal Group.
Founded in 1990, Landmark is a leading, full-service provider of custom agricultural irrigation systems and related orchard supply services in the Western United States. Through its 7 growing retail locations in California and Arizona, Landmark upholds its renowned reputation through its commitment to delivering high quality products and services while exceeding client expectations for irrigation system performance. The Company’s key offerings include designed custom piping, sprinklers, pumps, filters, related orchard supply products and a private label AgTech platform.
Russ Spain, CEO and co-owner of Landmark, shared, “The TriCal [Group] platform is exciting to be a part of and will provide a lot of opportunities for our employees to grow with the Company.”
Gene Blocher, President and co-owner of Landmark, added, “Teaming up with [the] TriCal [Group] is certainly a positive for Landmark in providing an even better level of service for our customers.”
Russ and Gene further commented, “Meridian’s leadership through this transaction was so helpful, their whole team was outstanding to work with. Meridian really made it easy for us to work through this process and we appreciate all of their efforts.”
Russ and Gene and the entire Landmark team will continue to lead and operate Landmark as part of the TriCal Portfolio of Companies.
The TriCal Group is a privately held family of companies with a global presence as a leading provider of fertigation, fumigation, and soil & plant management services. As one of the first to mechanize soil fumigation, the TriCal Group has established a trusted network of companies across the Americas, Western Europe, Australia, New Zealand, Africa, and developments in Japan, China, and Southeast Asia.
James Rothenberger, Managing Director at Meridian stated, “Landmark represents a compelling retail product & service platform serving the growing agricultural regions in California and Arizona. Landmark, and [the] TriCal [Group] have each benefited from the substantial institutional investment into the western U.S. agribusiness industry, and together they will be able to serve their customers in a unique and differentiated manner.”
Ashley Jacobsen from the Moss Adams Fresno office provided accounting services as part of this transaction. Michael Wilson from Locke Lord provided legal services as part of the transaction.
TriCal’s acquisition of Landmark represents continued momentum for Meridian’s Agribusiness Practice and Engineering, Construction & Building Products Practice. Other recent transactions include:
- Nutrien Ag Solution’s acquisition of Boyer Fertilizer and Pacific Coast Ag
- Arable Capital Partner’s acquisition of Royal Ridge Fruits & Cold Storage and Dorsing Farms
- Gar Tootelian’s merger with Bennett Water Systems
ABOUT LANDMARK IRRIGATION
Headquartered in Madera, CA, Landmark Irrigation is a leading provider of full-service custom irrigation systems and related orchard supplies. Landmark offers a comprehensive suite of high-value products and services to fulfill all growers’ needs. With a well-seasoned management team and trained professionals, Landmark continues to meet firmwide standards of quality field work and maintain longstanding customer relationships. For more information on the Company, please visit: www.landmarkirrigation.com.
ABOUT PROSPECT PARTNERS
Chicago-based, Prospect Partners (www.prospect-partners.com) is a private equity firm focused on the pre-mid market. They partner exclusively with entrepreneurial management teams in high potential companies in niche manufacturing, value added distribution and unique service businesses. Prospect Partners has completed more than 150 acquisitions, including more than 50 platform companies, since 1998.
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About Meridian Capital
Meridian Capital LLC is a leading independent middle market M&A advisory firm with locations in Seattle, Salt Lake City, the Bay Area, and Portland. Meridian has served as a trusted advisor to business owners on complex corporate finance, M&A and strategic challenges for over 29 years. The firm differentiates itself through its deep industry insights, highly customized service approach, and end-to-end commitment to execution. With a unique combination of financial, transactional, and operational professionals on your side, Meridian offers the depth and breadth of experience required to serve leading middle market companies in multiple sectors including aerospace defense & space, food, beverage & agribusiness, business services, consumer, diversified industrials, engineering & construction, building products, technology, and telecommunications. Meridian also offers clients unparalleled cross-border capabilities through its REACH M&A Partners network.
