Stamford”™s Clearview Capital Fund III has acquired Cascade Water Systems Corp. by its portfolio company, Orchard & Vineyard Supply (OVS). Financial details about the transaction, which closed on July 3, were not made available.
Based in Lafayette, Oregon, Cascade provides water pumping and irrigation systems to wineries, vineyards, orchards and other end markets throughout that state. It also distributes parts and supplies through a related entity, Ridgway Supply Co., which was included in the transaction.
OVS is an agricultural solutions provider offering a broad range of trellis and fabrics systems, irrigation and water systems, agronomy, and farm management services. The company is a combination of Fund III”™s initial acquisition of Wilson Orchard & Vineyard Supply (based in Yakima, Washington), in partnership with management, from a passive owner in 2016, and subsequent merger with Oregon Vineyard Supply.
Today, OVS is headquartered in McMinnville, Oregon, and has 17 locations in Washington, Oregon, California and New York. OVS also services growers nationwide through its e-commerce platform.
Cascade”™s founder, Paul Ridgway, will maintain an ownership stake and management role within OVS as senior director of Pump Systems Design & Sales.
Clearview Capital Fund III is a $325 million committed fund raised in 2013. Holdings in funds managed by Clearview Capital include Workforce Solutions, Apothecare Pharmacy, Community Medical Services Holdings and Controlled Products.
