Arable Capital Partners has acquired California-based Lodi Pump and Irrigation, an irrigation company. No financial terms were disclosed. As a result of the deal, Steve Borra Jr. will remain president of LPI.
BELLEVUE, WA & BAKERSFIELD, CA, July 2018 – Arable Capital Partners (“Arable”) announced today that it has partnered with Steve Borra Jr. in acquiring Lodi Pump and Irrigation (“LPI”), a Lodi, CA based full service irrigation company known for delivering high quality systems and service expertise in California.
Lodi Pump and Irrigation has set the industry standard for drip and sprinkler irrigation design, and installation services throughout the state of California for the past 30 years. 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. LPI serves customers with high value growing operations that include grapes, almonds, walnuts, olives and other row crops.
“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 Capital Partners.
Lodi Pump and Irrigation’s geographical presence and exceptional reputation stood out to the Arable team. Arable felt a strong fit and an opportunity to invest in LPI and expand operations. Arable Capital Partners is a team of industry veterans with extensive agriculture and investing experience.
Steve Borra Jr, states that, “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”.
Steve will remain as President of LPI continuing to build a company committed to serving its clients and team members. Greg Richards, Managing Director at Arable, added, “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.”
About Arable Capital Partners
Based in Bellevue, WA and Bakersfield, CA, Arable focuses on investing in food & agriculture companies. The firm takes a broad approach to the industry, making long-term investments from “seed to shelf.” Arable is an attractive partner for family operators and management teams, targeting 15+ year hold periods with long term strategic investments.