Update—Hunter Industries and Senninger Irrigation have announced the acquisition of Senninger Irrigation by Hunter Industries, effective January 4, 2016. Hunter and Senninger have been strategic partners since 2004 through an OEM relationship.
"We mutually respected and admired each other as reputable companies and felt if we came together, we could learn from each other, realize economies of scale, and be stronger than if we operated separately," said Senninger president James Burks.
This acquisition adds to Hunter's growing revenue stream through expansion into Senninger's markets.
As always, the two companies say that it will continue to provide the high-quality products and services its customers have come to expect.
Hunter Industries Enters Due Diligence Phase to Acquire Senninger Irrigation—Hunter Industries has entered a due diligence phase in the intended acquisition of Senninger Irrigation. Both companies announced this; they have been strategic partners since 2004 through an OEM relationship.
Senninger president James Burks says, "Our history of success together as separate organizations provides a solid indicator of our positive future as a unified team."
Senninger is a Florida-based irrigation manufacturer of water and energy efficient sprinklers, spray nozzles, pressure regulators and other irrigation tools for agriculture, mining, effluent and wastewater applications, and the dairy industry. Joe Senninger started operations in 1963 with nephews Andy and Mark Healy joining him, respectively, in 1964 and 1965. Throughout its more than five decades of business, Senninger has remained a privately held corporation.
"Hunter and Senninger combine to create a very talented team of engineers and manufacturing professionals. We are very excited about working together with their teams to bring innovations to our shared channels," said Greg Hunter, CEO at Hunter.
"There has been an opportunity for both companies, over three decades, to casually observe each other's development and behavior, providing insight into the character and reputation of each respective company, their founders and management. Cultural alignment was a key factor for both organizations in opening discussions focused on an acquisition," says Burks.
The due diligence phase is expected to complete by mid-September. Senninger says they will continue to provide the high quality products and services its customers have come to expect.