Alantra advises Husqvarna Group on the acquisition of Orbit
Stockholm – Alantra, the global investment banking and asset management specialist, announces that it has acted as exclusive financial advisor to Husqvarna Group on the acquisition of Orbit Irrigation from Platinum Equity.
Orbit’s net sales during the last 12 months amounted to approximately USD 320m. The purchase price corresponds to an enterprise value of USD 480m on a cash and debt-free basis.
Orbit, based in Salt Lake City, Utah, has approximately 300 employees and generates over 95% of its revenues in North America, where Gardena’s presence today is limited. 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, with 1.4 million connected devices, helps consumers conserve water, promote plant health and save money. Orbit will report under Husqvarna Group’s Gardena division.
Husqvarna Group is a leading global producer of outdoor power products and innovative solutions for forest, park and garden care. Products include chainsaws, trimmers, robotic lawn mowers and ride-on lawnmowers. The Group is also the European leader in garden watering products under the Gardena brand. Net sales in 2020 amounted to SEK 42bn, and the Group has around 13,000 employees in 40 countries.
Gardena is a leading European supplier of high-quality gardening tools and is distributed in more than 80 countries worldwide. For over 50 years, Gardena has provided everything passionate gardeners need. The broad assortment of products offers innovative solutions and systems for watering, lawn care, tree and shrub care and soil cultivation
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