PE Deals

Forage Capital and Roynat acquire S3 Enterprises

Forage Capital Partners and Roynat Equity Partners have acquired S3 Enterprises, a Swift Current, Saskatchewan-based group of manufacturing companies focused on the farm equipment industry.

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Forage Capital Partners and Roynat Equity Partners have acquired S3 Enterprises, a Swift Current, Saskatchewan-based group of manufacturing companies focused on the farm equipment industry. No financial terms were disclosed. The seller was S3 owner Bob Sonntag, who has retired.

PRESS RELEASE

S3 Enterprises (“S3”) announced today that Bob Sonntag, President and owner, has retired and sold his interests in the organization. Bob has worked in agricultural manufacturing since 1985, when he joined Rem Manufacturing, in Swift Current, Saskatchewan. He first made his mark in the industry selling springs, tynes and rake teeth out of a sample case. Bob bought S3 in 2006, expanding operations to include the Delta Harrow plant in Shenandoah, Iowa, and rebranding the company under the S3 name.

Sonntag served on the board of FEMA (Farm Equipment Manufacturers’ Association) and was a strong advocate of AMC (Agricultural Manufacturers of Canada) and SMI (Spring Manufacturers’ Institute). Bob has enjoyed travelling on behalf of his business, building relationships with friends, customers and suppliers around the world. His career has demonstrated a passion for and understanding of the industry, a keen sense of humor and ongoing dedication to the S3 team.

Bob began stepping back from day to day operations several years ago, appointing the very capable management team of Richelle Andreas, CEO, Joe Gallant, GM S3 Wireform, Al Marques GM S3 Manufacturing, and Ida van Scyoc, GM S3 Delta Harrows. Bob professed,

“It’s amazing what they have accomplished without me holding them back.”
Forage Capital Partners and Roynat Equity Partners are pleased to have invested in S3 upon Bob’s retirement. Steven Leakos, Managing Director of Forage Capital commented, “The thing that impressed us about S3 was its culture, its willingness to approach the market differently, and its leadership. We are very excited about what the future holds for S3.”

“We look forward to expanding upon S3’s remarkable success and partnering with the S3 team as we continue to support the ongoing growth,” said Tobin Hayward, Director at Roynat Equity Partners.