Israeli Firm Carving Out John Deere's Irrigation Unit
February 28, 2014
FIMI Opportunity Funds, an Israeli private equity firm, has agreed to buy the irrigation operations of Deere & Company (NYSE: DE), which also goes by John Deere Water. Part of Deere & Company's Ag and Turf division, John Deere Water is a global full-line drip irrigation manufacturer that has significant distribution in North and South America, Asia, Europe and Africa. Late last year, Deere & Company completed another divestiture to a private equity firm, selling its landscapes business to Clayton, Dubilier & Rice for about $465 million.