Temasek signs agreement to acquire a majority stake in Rivulis
September 15, 2020 – Gvat, Israel – Temasek has signed an agreement to acquire a majority stake in Rivulis. The completion of the acquisition is subject to all government authorizations and is expected to occur during the fourth quarter of 2020.
Incorporated in 1974, Temasek is a Singapore-headquartered global investment company, which owns a US$214 billion portfolio. Its portfolio includes significant exposure to the agribusiness space, as well as a focus on sustainable living, which is core to Rivulis’ business.
Rivulis is a global micro irrigation leader innovating and deploying smart micro and drip irrigation solutions to help growers achieve higher yields, higher quality and great profitability while safeguarding the sustainability of grower land and livelihood. With the industry’s most comprehensive product portfolio, Rivulis is leading the adoption of micro irrigation globally. With 2,000 employees, 16 factories in 14 countries, 3 R&D centers in agricultural hot spots and 5 design centers globally, Rivulis is able to be close to the market, within reach of the growers. Rivulis represents the successful integration of 4 leading industry pioneers and veterans: Plastro, T-Systems, Roberts Irrigation and Eurodrip.
Richard Klapholz, Rivulis CEO, commented: “We are thrilled to welcome Temasek to our register as our largest shareholder. They are a forward-looking, generational investor focused on investments addressing global sustainability challenges. As we all know, micro irrigation is a transformative technology, which offers the only viable solution to water scarcity and to the resulting global food constraints. Temasek’s investment in Rivulis should be welcomed by our employees, our business partners and the growers, who are our customers.”
Gillon Beck, the outgoing Chairman of Rivulis, and Senior Partner, FIMI Opportunity Funds, said: “The investment by Temasek is a major milestone for Rivulis. We are proud of what the company has achieved in the past few years. The Board, together with the company’s management, did an incredible job in turning the company around. This team has enabled the company to build a world recognized brand, achieve rapid growth, and expand to new geographies while innovating new breakthrough technologies. We are excited for the company’s next chapter. Thank you management and all employees for such tremendous and relentless efforts, and wish you good luck.”
About Temasek
Temasek is an investment company with a net portfolio value of S$306 billion (US$214 billion) as at 31 March 2020. Its three roles as an Investor, Institution and Steward, as defined in the Temasek Charter, shape Temasek’s ethos to do well, do right and do good.
Temasek’s investment direction is shaped by structural trends: longer lifespans, rising affluence and sustainable living drive social progress, enabled by technological solutions for sharing economies, smarter systems and a more connected world. It actively seeks sustainable solutions to address present and future challenges, as we capture investment and other opportunities that help to bring about a better, smarter and more sustainable world.
Headquartered in Singapore, Temasek has a global portfolio, and offices in 8 countries. For more information on Temasek, please visit www.temasek.com.sg
About Rivulis
Rivulis is a global micro irrigation solutions visionary offering the broadest portfolio in the market featuring the industry’s most recognized product brands, including T-Tape, Ro-Drip, D5000 PC, Supertif and Eurodrip Eolos and Eolos Compact. Established in 1966, Rivulis is headquartered in Israel and has 16 manufacturing and distribution facilities, 2,000 employees, 3 R&D Centers (Israel, California, and Greece) and multiple Design Centers around the globe.
We work with over 3,300 business partners worldwide to provide full turnkey micro irrigation solutions for any, and all, grower needs from individual growers to large corporate plantations in the agriculture, horticulture, greenhouse, landscape and mining industries. Leading the mass adoption of micro irrigation globally, Rivulis is committed to increasing accessibility to all growers everywhere through simple, affordable and smart technology for a more sustainable future for all. To learn how Rivulis can help you GROW BEYOND your highest expectations season after season, visit www.rivulis.com.
