JACKRABBIT HAS BEEN ACQUIRED BY MIDWEST GROWTH PARTNERS
Prestwick is pleased to announce the sale of Jackrabbit to Midwest Growth Partners, a West Des Moines, Iowa-based private equity firm. Prestwick acted as the exclusive advisor to Jackrabbit and its private equity owner, Gladstone Investment Corporation (NASDAQ: GAIN). The terms of the transaction were not disclosed.
Jackrabbit is a Ripon, California-based designer and manufacturer of tree nut (i.e., almonds, walnuts, pecans) harvesting equipment and handling systems. As a leader and innovator in the industry for over 35 years, Jackrabbit focuses on equipment that makes the harvesting process quicker, more efficient, and less labor-intensive for the grower. Since its founding, Jackrabbit’s offering has grown from a single product to a full line of branded, proprietary equipment, including self-propelled shuttles, carts, harvesters, elevators, conditioners, pruning towers, frost protection, and rodent control solutions. The Jackrabbit brand is the de-facto standard within the industry and the Company’s products are recognized for innovation, quality, reliability, and efficiency.
Midwest Growth Partners is a private equity firm that seeks to make succession planning liquidity or growth capital investments in established companies operating in the food and agriculture, manufacturing, distribution, and business services industries.