Stamford, CT, July 15, 2020 — Clearview Capital Fund III, L.P. (“Fund III”) announced today the acquisition of Cascade Water Systems Corp. (“Cascade”) by its portfolio company, Orchard & Vineyard Supply (“OVS”). The transaction closed on July 3, 2020.
Cascade is a leading provider of water pumping and irrigation systems serving wineries, vineyards, orchards and other end markets throughout the state of Oregon. Cascade also distributes parts and supplies through a related entity, Ridgway Supply Company, which was also included in the transaction.
OVS is a leading agricultural solutions provider offering a broad range of trellis and fabrics systems, irrigation and water systems, agronomy, and farm management services. OVS’ mission is to be a value-added partner and a “one-stop shop” for growers of high-value, permanent crops.
OVS is a combination of Fund III’s initial acquisition of Wilson Orchard & Vineyard Supply (based in Yakima, Washington), in partnership with management, from a passive owner in 2016, and subsequent merger with Oregon Vineyard Supply, which had been an ESOP, in 2018.
Today, OVS is headquartered in McMinnville, Oregon and operates out of seventeen locations in Washington, Oregon, California and New York. OVS also services growers nationwide through its e-commerce platform, www.orchardvalleysupply.com.
Cascade’s founder, Paul Ridgway, will maintain an ownership stake and management role within OVS as Senior Director of Pump Systems Design & Sales. “I’m very excited to be joining the OVS team,” said Paul. “Partnering with OVS will allow me to focus more of my time on working with clients and expanding our product and service offering, which is what I’m most enthusiastic about.”
“Like OVS, Cascade has built a great reputation in the Northwest through decades of providing high quality, dependable solutions,” added Jason Luster, OVS’ CEO. “The addition of Paul and his team to our organization brings expanded capabilities that we are excited to offer to a greater portion of our clients.”
“Cascade represents the company’s fifth acquisition since our original investment in Wilson,” said Matt Rumilly, Partner at Clearview Capital. “Coupled with management’s organic growth initiatives, this has allowed OVS to substantially increase its product and service offering across a broader customer base while maintaining the same value proposition and core philosophies that have made the company so successful.”
Clearview Capital Fund III, L.P. is a $325 million committed fund raised in 2013.
Holdings in funds managed by Clearview Capital include Workforce Solutions, a provider of management consulting services focused on organizational improvement, leadership development, communications and advocacy for a broad array of clients; Apothecare Pharmacy, LLC, an institutional pharmacy targeting the behavioral health sector; Community Medical Services Holdings, LLC, a provider of medication-assisted treatment programs for patients suffering from opioid use disorder; UpSwell, LLC f.k.a. Mudlick Mail, LLC, a data-driven direct mail and related marketing solutions provider; Orchard & Vineyard Supply f.k.a. Wilson Orchard & Vineyard Supply, a provider of orchard and vineyard supplies and solutions, and outsourced vineyard management services; Controlled Products, LLC, a manufacturer and distributor of premium quality synthetic turf; Elevation Labs f.k.a. Northwest Cosmetic Labs, a formulator and manufacturer of cosmetic and skin care products for prestige brands; Derby Building Products, Inc. f.k.a. Novik, Inc., an innovator, manufacturer and distributor of polymer building products; Child Health Holdings, Inc. d.b.a. Pediatric Health Choice, the country’s largest provider of prescribed pediatric extended care (“PPEC”) centers for medically complex children; and Pyramid Healthcare, Inc., a provider of substance use disorder and mental health treatment programs for adults and adolescents.
