CHICAGO and CONRAD, Iowa, Jan. 16, 2025 (GLOBE NEWSWIRE) — Granite Creek Capital Partners, L.L.C., a private investment firm based in Chicago, today announced the acquisition of Ritchie Industries, Inc. (“Ritchie” or the “Company”), a leading manufacturer of automated livestock watering products.
Ritchie offers a complete line of livestock watering products for the beef, dairy, equine and other livestock markets. Over its 100-plus year history, Ritchie has built the preeminent brand in the waterer industry with products synonymous with innovation, quality, and reliability. The waterers are manufactured in Conrad, Iowa, continuing the legacy of the Company’s founder, Thomas Ritchie, who patented the first automatic float-controlled livestock watering device in 1921.
“Ritchie has a storied history and has built an unmatched reputation for quality and integrity,” said Jim Clark, Partner at Granite Creek. “We are excited to have the opportunity to partner with the Company to build on its strong foundation and explore new products and services that will further expand Ritchie’s market-leading position.”
Mike Ray, Operating Partner at Granite Creek, added, “We are ready to leverage our expertise in livestock markets and animal health to support the Ritchie team. Clean, reliable water access in any weather and operating conditions is vital to a herd’s performance. We look forward to supporting Ritchie’s ongoing product innovation efforts for its customers in the United States and international markets.”
The Granite Creek-led acquisition of Ritchie was supported by an investment from Rural American Fund and a rollover investment from Ritchie’s management and employees.
“The investment and partnership with Granite Creek and Rural American Fund mark an exciting new chapter in Ritchie’s history,” shares Robert Amundson, CEO of Ritchie Industries. “With Granite Creek and Rural American Fund’s support and growth ambitions, we are positioned to expand our product offerings and gain market share in new and existing end-markets.”
About Ritchie Industries
Headquartered in Conrad, IA, Ritchie is a leading manufacturer of automated livestock watering products for cattle, horses, sheep, goats, and other livestock, with offerings ranging from single-stall waterers to fountains that can accommodate 500 cattle per unit. Ritchie waterers are reliable, durable, and energy-efficient, providing fresh, clean drinking water to cattle, horses, and other livestock – even in the most extreme climates. Ritchie’s products are built to withstand extreme weather conditions and can be found in all 50 states and in 20 countries across the world.
About Granite Creek Capital Partners
Founded in 2005, Granite Creek Capital Partners, L.L.C. is a Chicago-based private investment firm focused on providing capital and operational resources to lower middle market companies engaged in manufacturing, business services, healthcare, and agribusiness. With an experienced team of investment professionals bringing expertise in private equity, banking, operations, and business development, Granite Creek has a successful track record of investing in and supporting its portfolio companies. Granite Creek has been named to Inc.’s Founder-Friendly Investors list for five consecutive years, honoring the private equity and venture capital firms with the best track record of success backing entrepreneurs. For more information on Granite Creek, visit www.granitecreek.com or call 312-895-4500.
About Rural American Fund
Rural American Fund is a Chicago-based private equity firm with an innovative, niche strategy targeting the favorable dynamics of the agribusiness market. The firm focuses on making partnership investments in growing, lower middle-market operating businesses principally in agriculture or ag-related industries. Rural American Fund is led by three partners who bring 50+ years of combined private equity, corporate development, and middle market merger & acquisition experience to the firm, while its ag-entrepreneur partners, all successful agribusinessmen, provide additional operational guidance. For more information on Rural American Fund, visit www.raflp.com or call 312-750-0662.
For more media information, contact:
Lisa Hendrickson, LCH Communications for Granite Creek Capital Partners
516-643-1642
