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Arable Capital merges 3 irrigation companies, forms new entity

Food- and agriculture-focused investment firm Arable Capital Partners LLC finalized its purchase of three irrigation companies and combined them into a new company.

The companies — Hydratec Inc., Lodi Pump & Irrigation and Universal Irrigation and Supply — were combined to create Laurel Agriculture + Water Solutions, which will focus on providing water and agricultural products.

Hydratec was acquired in April, while Lodi was bought in July. Universal joined the private equity firm's portfolio in August.

Terms of the transactions were not disclosed.