EXACT HAS MERGED WITH JACKRABBIT
Prestwick is pleased to announce the merger of Exact Corporation and Jackrabbit Equipment, a portfolio company of Midwest Growth Partners, a West Des Moines, Iowa-based private equity firm. The merged entity combines Exact’s innovative orchard harvesting equipment portfolio with Jackrabbit’s long-standing history of product excellence, creating a full-service offering to better serve the needs of modern agricultural operations. Prestwick acted as the exclusive financial advisor to Exact. The terms of the transaction were not disclosed.
Exact (www.exactcorp.com) is a Modesto, California-based designer and manufacturer of specialty orchard harvesting and crop care solutions serving the global tree nut market and several other high-demand permanent crop markets. Founded in 2003, Exact has been providing growers with innovative orchard harvesting equipment designed to improve efficiency, optimize yield, and minimize environmental impact. Exact offers a comprehensive suite of proprietary agriculture equipment, including tree nut sweepers, conditioners, and harvesters, as well as orchard cabs and herbicide sprayers.
Jackrabbit (www.jackrabbitequipment.com) is a Ripon, California-based designer and manufacturer of tree nut harvesting and material handling systems. As a leader in the industry for over 40 years, Jackrabbit focuses on equipment that makes the harvesting process quicker, more efficient, and less labor-intensive for growers. Since its founding, Jackrabbit has grown from a single product to a full line of proprietary equipment, including self-propelled shuttles, carts, elevators, conditioners, pruning towers, frost protection, and rodent control solutions.
Midwest Growth Partners, headquartered in West Des Moines, Iowa, is a private equity firm responsible for more than $325 million of private capital across three funds. MGP invests in established companies within the food and agriculture, manufacturing, and distribution industries. Current MGP investments have revenues totaling over $1 billion annually, employing over 3,000 people.
